Last Updated:
Paytm shares dipped 1% intraday as Antfin plans to sell its 5.84% stake worth Rs 3,803 crore via a block deal.
Paytm Shares Price falls ahead of block deal.
Paytm Share Price: Paytm shares on Tuesday morning saw a dip of 1 per cent intraday ahead of its promoter Antfin (Netherlands) Holding B.V. planning to sell its entire 5.84 per cent stake worth Rs 3,803 crore in the company via a block deal.
According to Moneycontrol report, the proposed sale involved up to 3.77 crore equity shares out of the total remaining shares of 5.84 per cent. The floor price has been fixed at Rs 1,020 per share, which is a 5.4 percent discount to Paytm’s last closing price of Rs 1,078.20 on August 4 on the NSE, the MC report added.
The MC report confirmed that Citi and Goldman are likely to be onboarded as placement agents. Shares are expected to settle on August 6 on a T+1 basis.
Antfin has been steadily reducing its stake in Paytm over the past two years. Its latest stake sale, worth Rs 3,803 crore, follows a series of earlier block deals — including one in August 2023, when it offloaded shares worth around Rs 1,371 crore. The ongoing sell-off reflects Antfin’s strategy to lower its exposure and aligns with broader regulatory sentiment concerning long-term Chinese-origin investors.
Paytm’s scrip was trading at Rs 1066.40 apiece with a fall of 1.09 per cent, against the previous close at Rs 1,078.20 apiece. The scrip opened at Rs 1,067.60 apiece.
There has been a substantial recovery in Paytm shares in the past one year. The shares are up 113 per cent to above Rs 1000 apiece. Shares hit a record low after the RBI’s action to ban Paytm payment bank due to regulatory compliance issues.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
view comments
Read More
