Feb 17, 2017 05:45 PM IST | Source: Moneycontrol.com

Reliance Capital to sell its 1% stake in Paytm: Sources

This transaction is in line with Reliance Cap's strategy to stay focussed on its financial services business. The company has been hinting at a possible exit from all its non-core assets. It had earlier sold its telvision and radio businesses.

Reliance Capital is close to finalising a deal to monetize its stake in Paytm, sources privy to the information told CNBC-TV18. Reliance Capital owns one percent stake in the digital payments firm. Paytm was valued at USD 4.8 billion in its last big round of funding.

This transaction is in line with Reliance Cap's strategy to stay focussed on its financial services business.

The company has been hinting at a possible exit from all its non-core assets. It had earlier sold its telvision and radio businesses.

The company has already found a buyer for the stake in Paytm, said sources. The buyer is most likely to be Chinese e-commerce giant Alibaba.  

Apart from this deal, the company is also in talks to demerge its commercial finance and home finance businesses. It also plans to raise around RS 450-550 crore by the end of current fiscal.

Reliance Cap is also looking to list its commercial and home finance business. The home finance business is slated to go public in April.

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