On August 28, Paytm’s shares, owned by One 97 Communications, witnessed a 3% decline in response to China’s Ant Group’s decision to sell more stake in the fintech giant, Vijay Shekhar Sharma’s company. The share price stood at Rs 877.90 by 1 pm.
Ant Group’s Stake Sale Impacts Paytm Shares
Ant Group’s investment arm, Antfin (Netherlands) Holding BV, made a significant move by selling a 3.59% stake in Paytm shares, generating Rs 2039 crore from the transaction. This involved the sale of 2.27 crore shares on the open market, with an average price of Rs 895.20 per share.
Antfin (Netherlands) Holding BV’s Strategic Move
Contrastingly, Societe Generale and Morgan Stanley have opted to invest in Paytm, collectively acquiring a 1.57% stake. Societe Generale acquired 59.87 lakh shares, while Morgan Stanley Asia Singapore secured 39.96 lakh shares from the open market. The average share price for both entities during this acquisition remained Rs 895.20. The changes in holdings and stake sales have impacted Paytm’s stock, which experienced a 3% decline, ultimately trading at Rs 877.90.