Jai Shekhar Sharma bets big and is now Paytm’s top shareholder.

An off-market transfer would be used to buy a 10.3% interest in Paytm from Antfin by a foreign company owned by Jai Shekhar Sharma.

Sharma and the promoter companies would become Paytm’s largest shareholders as a result of the acquisition.

Paytm’s share soared more than 10% from its previous closing as a result of the news.