• Chethan Machaknur

Ant talks of significant influence over Paytm

Chinese tech giant Ant Group reiterated in its initial public offering prospectus that it has "significant influence" over One97 Communications Ltd, which owns Paytm, and holds a 30.33% stake in the Noida-based venture.

"Our major associates include One97 Communications Ltd that operates Paytm, our e-wallet partner in India, in which we held a 30.33% equity interest," Ant Group said in its filing. "Entities over which we have significant influence or joint control are classified as associates or joint ventures."

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