2 weeks ago
Paytm Parent Sees Rs 2,949-Crore Block Stake Sale
Several big investment companies bought shares in Paytm’s parent company, One97 Communications.
They bought about 3% of the company.
The shares were purchased for nearly Rs 2,949 crore in total.
Goldman Sachs, BNP Paribas and Societe Generale were among the buyers.
Indian mutual funds and insurance companies also bought shares.
Resilient Asset Management sold the same number of shares that investors purchased.
Paytm had earlier announced a larger, 4.98% possible sale.
The money from the sale will remain with Antfin under an existing agreement, and Paytm’s share price fell that day.
Investors bought about 3% of Paytm parent One97 Communications for nearly Rs 2,949 crore.
Goldman Sachs, BNP Paribas and Societe Generale were among the major buyers.
Investors acquired 1,92,10,110 shares at an average price of Rs 1,535.10 each.
Domestic mutual funds and insurers, including SBI Mutual Fund and ICICI Prudential Life Insurance, also participated.
The transaction followed an announced 4.98% stake sale by Resilient Asset Management, while Paytm shares fell 2.15% to Rs 1,546.30.
- Who
- Foreign and domestic institutional investors bought shares in One97 Communications, while Resilient Asset Management BV sold them.
- What
- Investors purchased 1,92,10,110 shares, representing about 3% of One97 Communications, in block deals worth nearly Rs 2,949 crore.
- Where
- The transactions were reported through block deal data on the National Stock Exchange.
- When
- The transaction took place on Tuesday, following Paytm’s announcement on Monday.
- Why
- The sale was linked to Resilient Asset Management’s stake disposal, with proceeds retained by Antfin under an existing Optionally Convertible Debenture agreement.
Key facts
- Company
- One97 Communications, the parent company of Paytm
- Stake traded
- About 3%, or 1,92,10,110 equity shares
- Transaction value
- Rs 2,948.94 crore
- Average share price
- Rs 1,535.10
- Major buyers
- Goldman Sachs, BNP Paribas and Societe Generale, among others
- Seller
- Resilient Asset Management BV
- Closing share price
- Rs 1,546.30 on the NSE, down 2.15%
Sources
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