05/12/2022

A Day After Sharp Drops, Paytm Shares End Over 1% Higher

Shares of One97 Communications tumbled nearly 11 per cent on Thursday.(File)

New Delhi:

Shares of One97 Communications, Paytm’s parent firm, today ended over 1 per cent higher, a day after falling sharply.

In morning trade, the stock had declined over 2 per cent after SoftBank divested 4.5 per cent stake in the firm for Rs 1,631 crore through an open market transaction.

The stock dipped 2.23 per cent to Rs 527.50 during the day on the BSE. But it recovered all the lost ground and ended at Rs 546.30 apiece, higher by 1.25 per cent.

On the NSE, it fell 2.38 per cent to Rs 526.90 during the day. The stock ended at Rs 546.40 per share, a gain of 1.22 per cent.

Shares of One97 Communications tumbled nearly 11 per cent on Thursday.

Earlier this month, the lock-in period ended for the pre-offer investors that had invested in Paytm, which was listed on the bourses in November last year.

According to bulk deal data available with the National Stock Exchange (NSE) on Thursday, SVF India Holdings (Cayman) Ltd sold a total of 2,93,50,000 shares, amounting to 4.5 per cent stake in the company.

SVF India is a subsidiary of SoftBank.

The shares were offloaded at an average price of Rs 555.67 per piece, taking the transaction value to Rs 1,630.89 crore.

SoftBank is the second largest shareholder with 17.45 per cent stake in the company.

Post the latest transaction, SoftBank’s shareholding will decrease to 12.95 per cent from 17.45 per cent stake in the company

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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