Paytm Block Deal Sees Rs 2,949-Crore Stake Sale, Goldman Sachs And BNP Paribas Among Major Buyers
New Delhi: A group of foreign and domestic institutional investors bought a 3 per cent stake in One97 Communications Ltd, the parent company of Paytm, for nearly Rs 2,949 crore through block deals on Tuesday. Global investors including Goldman Sachs, BNP Paribas and Societe Generale were among the key buyers in the large transaction. Foreign investors buy Paytm shares Other foreign investors that…
A group of foreign and domestic institutional investors purchased a 3 percent stake in One97 Communications Ltd, the parent company of Paytm, for approximately Rs 2,949 crore through block deals on Tuesday. Notable buyers included Goldman Sachs, BNP Paribas, and Societe Generale. Foreign investors like Ghisallo Capital Management, Oxbow Capital Management, and North Rock Capital Management also participated.
Together, the investors acquired 1,92,10,110 equity shares, or around 3 percent of One97 Communications, at an average price of Rs 1,535.10 per share. The combined value of the transactions amounted to Rs 2,948.94 crore. Domestic investors like SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, and HDFC Mutual Fund also took part in the deal, along with insurance companies ICICI Prudential Life Insurance and Tata AIA Life Insurance.
The stake sale followed Paytm's announcement that Resilient Asset Management, owned by founder Vijay Shekhar Sharma, would sell a 4.98 percent stake in One97 Communications through a block deal. However, the proceeds from this transaction will be retained by China-based Antfin under its existing Optionally Convertible Debenture agreement with Resilient Asset Management.
One97 Communications shares experienced a decline of 2.15 percent, closing at Rs 1,546.30 on the National Stock Exchange.
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