2 weeks ago
Paytm in focus as Resilient AM may sell 4.98% stake
Paytm is a big company in India that helps people pay for things using their phones.
A company called Resilient Asset Management wants to sell some of the Paytm shares it holds.
It plans to sell almost 5 percent of the company.
Selling shares in one big trade is called a block deal.
The shares will be sold at a slightly lower price than the current market price.
This lower price is called a discount.
The sale could be worth about 1,946 crore rupees.
That is a very large amount of money.
Another company called Antfin will get the money from the sale.
Paytm says it is not part of the deal and its founders will keep their shares.
Resilient Asset Management B.V. proposes a block market trade to sell up to 4.98% stake in One 97 Communications (Paytm).
The floor price is around Rs 1,535.10 per share, a 2.9% discount to Monday's closing price of Rs 1,580.20 on NSE.
The estimated deal size is Rs 1,946 crore, with up to 1.92 crore shares changing hands.
The economic value received by Resilient will be retained by Antfin (Netherlands) Holding B.V. under the OCD agreement.
One 97 Communications said it was not a party to the transaction and there would be no change in founders' direct shareholding; shares settled 1.4% lower on Monday.
- Who
- Resilient Asset Management B.V., which proposes to sell up to 4.98% of One 97 Communications (Paytm); Antfin (Netherlands) Holding B.V. retains the economic value under the OCD agreement.
- What
- A block market trade to sell up to 4.98% shareholding in Paytm at a floor price of Rs 1,535.10 per share.
- Where
- On the National Stock Exchange (NSE) in India.
- When
- Proposed after Paytm shares settled 1.4% lower at Rs 1,580.20 on Monday on the NSE.
- Why
- Resilient is selling under its existing Optionally Convertible Debenture agreement with Antfin, with the economic value retained by Antfin.
Key facts
- Company
- One 97 Communications (Paytm)
- Seller
- Resilient Asset Management B.V.
- Stake to be sold
- Up to 4.98%
- Floor price
- Rs 1,535.10 per share
- Discount to Monday's close
- 2.9%
- Estimated deal size
- Rs 1,946 crore
- Shares to change hands
- Up to 1.92 crore
- Lock-up period
- 90 days
Quotes
Paytm Communications
Paytm company statement
“The company has been informed by Resilient Asset Management B.V. (Resilient) that it proposes to undertake a Block Market Trade to sell up to 4.98% shareholding in One 97 Communications Limited under its existing optionally convertible debenture agreement with Antfin.”
businesstoday.in
Sources
Related news
Resilient Asset Management to sell up to 4.98% Paytm stake
Vijay Shekhar Sharma’s Resilient Sells 3% Paytm Stake
Paytm Founder Retains Stake as Antfin Receives Share Sale Value
Paytm Parent Sees Rs 2,949-Crore Block Stake Sale
NSE derivatives turnover falls below ₹200 lakh crore in August
Vodafone Idea Shares Rise as Brand Revamp Draws Investor Attention
Augmont Enterprises Rises Despite Gold-Buying Appeal and Market Risks
BSE Shares Fall as New Closing Auction Session Draws Scrutiny
BSE Seeks Common Order Book to Boost Closing Auctions
