For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Alibaba Singapore E-commerce Sells 3% Stake, In Paytm Worth Rs 1,031 Cr

By
|

Alibaba Singapore E-commerce on Thursday divested nearly 3 per cent stake in Paytm's parent company One97 Communications for Rs 1,031 crore through an open market transaction. Alibaba Singapore E-commerce sold 1.92 crore shares of the company, amounting 2.95 per cent stake in the company, according to the bulk deal data available with the National Stock Exchange (NSE).

 
Alibaba Singapore E-commerce Sells 3% Stake In Paytm Worth Rs 1,031 Cr

The shares were offloaded at an average price of Rs 536.95 apiece, taking the transaction value at Rs 1,030.94 crore. Post the latest transaction, Alibaba's total shareholding has decreased to 28.19 per cent from 31.14 per cent stake in the company. On Thursday, Morgan Stanley Asia (Singapore) Pte ODI and Ghisallo Master Fund LP acquired a total of 1.04 crore Paytm shares at an average price of Rs 534.8 per piece. Shares of Paytm closed 6.16 per cent lower at Rs 543.50 on NSE.

 

(PTI)

Read more about: e commerce paytm
Story first published: Friday, January 13, 2023, 9:22 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X