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Paytm CEO has sold 1% stake for fund raising for payments banks

Vijay Shekhar Sharma, the founder and CEO of Paytm has raised Rs 325 crore through sell of one percent of his stake in One97 Communications, Paytm’s parent company.

The money will be used in funding Paytm’s upcoming payments bank.

He now owns 20.33 percent in One97 after sell of his stake to an undisclosed shareholder.

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