Alibaba Singapore E-commerce sells 3% stake in Paytm worth Rs 1,031 cr

Alibaba Singapore E-commerce sells 3% stake in Paytm worth Rs 1,031 cr

Alibaba Singapore E-commerce on Thursday divested about 3 p.c of Paytm’s guardian firm One97 Communications by an open market transaction for Rs 1,031.

Alibaba Singapore E-commerce has bought 1.92 crore shares, akin to 2.95 p.c of the corporate, in response to aggregated transaction knowledge obtainable on the Nationwide Inventory Alternate (NSE).

The shares had been vacated at a mean value of Rs 536.95 every and the transaction worth was taken at Rs 1,030.94 crore.

After the final transaction, Alibaba’s complete stake within the firm fell from 31.14 p.c to twenty-eight.19 p.c.

On Thursday, Morgan Stanley Asia (Singapore) Pte ODI and Ghisallo Grasp Fund LP bought a complete of 1.04 crore Paytm shares at a mean value of Rs 534.8 per piece.

Paytm shares closed at Rs 543.50, down 6.16 p.c on NSE.

(This story was not edited by the Devdiscourse staff and was generated mechanically from the syndication feed.)

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