Alibaba Group sells 3% stake in Paytm; Morgan Stanley picks stocks
According to block deal data on the NSE, Alibaba.com sold 19.2 million shares at ₹536.95 apiece. While Morgan Stanley Asia bought 5.5 million shares, Ghisallo Master Fund acquired 4.98 million shares. The rest of the buyers were not known.
By ET Bureau | Updated:
ETtech
Mumbai: China's Alibaba Group has sold about a 3% stake in One97 Communications, the parent entity of leading Indian mobile payments and financial services company Paytm, for ₹1,031 crore through a block deal on Thursday.
According to block deal data on the NSE, Alibaba.com sold 19.2 million shares at ₹536.95 apiece. While Morgan Stanley Asia bought 5.5 million shares, Ghisallo Master Fund acquired 4.98 million shares. The rest of the buyers were not known.
Shares of Paytm declined 6.2% to close at ₹543.20 on Thursday. Alibaba held a 6.26% stake in Paytm as of end-September, while Alibaba group firm Ant Financial held 24.88% of the company.
Alibaba earlier sold shares in BigBasket and Zomato.
In November last year, the Japanese SoftBank Group sold 29 million shares of Paytm, or a 4.5% stake, worth about $200 million through a block deal.
The lock-in period for pre-initial public offering investors of Paytm ended on November 15.
Paytm shares were listed in November last year at ₹1,950 apiece, a 9% discount to the issue price of ₹2,150. The ₹18,300-crore IPO was launched in early November with a price band of ₹2,080-2,150 per share. The stock has declined 75% from its offer price.
According to block deal data on the NSE, Alibaba.com sold 19.2 million shares at ₹536.95 apiece. While Morgan Stanley Asia bought 5.5 million shares, Ghisallo Master Fund acquired 4.98 million shares. The rest of the buyers were not known.
Shares of Paytm declined 6.2% to close at ₹543.20 on Thursday. Alibaba held a 6.26% stake in Paytm as of end-September, while Alibaba group firm Ant Financial held 24.88% of the company.
Alibaba earlier sold shares in BigBasket and Zomato.
In November last year, the Japanese SoftBank Group sold 29 million shares of Paytm, or a 4.5% stake, worth about $200 million through a block deal.
The lock-in period for pre-initial public offering investors of Paytm ended on November 15.
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Paytm shares were listed in November last year at ₹1,950 apiece, a 9% discount to the issue price of ₹2,150. The ₹18,300-crore IPO was launched in early November with a price band of ₹2,080-2,150 per share. The stock has declined 75% from its offer price.
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