Swiss investment bank UBS Group AG’s asset management arm, along with some of its Swiss clients, is in discussions to invest $400 million (Rs 2,920 crore) in Paytm, The Economic Times said citing people with knowledge of the matter.
UBS is negotiating the purchase of Paytm stock from a group of employees at the fintech startup, the people said.
It aims to finalise an agreement as soon as this month, according to one of the persons.
Meanwhile, Indiabulls Housing Finance is in separate discussions with private equity investors including Apollo Global, TPG, and Brookfield to sell up to 20% stake at a deal value pegged at Rs 2,000 crore ($275 million), a Business Standard report said citing people in the know.
The due diligence is expected to gather momentum in April.
The new investor will become the single-largest shareholder with up to three board seats. As part of the deal, Sameer Gehlaut might step down as a promoter of the company.
