- By Aditya Pratap Singh
- Tue, 13 May 2025 11:47 AM (IST)
- Source:JND
Paytm Share Price: Shares of One97 Communications, the parent company of Fintech platform Paytm, tanked up to 5 per cent on during the early trade on Tuesday amid reports that financial Services company Ant Group may offload up to 4 per cent stake worth about Rs 2,066 crore in the fintech firm. In opening hour, the fintech stock dropped 4.99 per cent to Rs 823.10 on the BSE. At the same time, Paytm shares tanked 4 per cent to Rs 830.55 on NSE.
However, the scip revoved some of it loses amid buying interest from investors. At around 11:36 am, Paytm shares were trading at Rs 849.05, down 1.96% on NSE. ON BSE, it was trading at 847.05, falling 2.23% against the previous day's closing price.
Ant Group To Offload 4% Stake
Ant Group is set to sell a 4 per cent stake in One97 Communications for around Rs 2,066 crore, sources said. The sale will be done through a bulk deal on BSE and NSE on May 13, they said, and will sell up to 25.5 million shares of Noida-based Paytm.
Ant Group, formerly known as Ant Financial, is a subsidiary of Chinese conglomerate Alibaba Group. Investment banking firms Goldman Sachs (India) Securities Private Limited and Citigroup Global Markets India Private Limited are set to sell stakes, sources said.
As per BSE shareholding data samples as of the end of the March quarter, Antfin (Netherlands) Holding BV held 9.85 per cent stake in digital payments firm Paytm.
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Disclaimer: This is just a piece of news about recent developments in the stock. Jagran does not advise investing, please take expert opinion before investing.