Business Standard

Morgan Stanley buys Paytm shares worth Rs 244 cr via open mkt transaction

Morgan Stanley through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange (NSE)

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One97 Communications Ltd (OCL) holds a 49 per cent stake in Paytm Payments bank but classifies it as an associate of the company and not as a subsidiary

Press Trust of India New Delhi

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Financial services major Morgan Stanley on Friday bought shares of Paytm's parent company One97 Communications for Rs 244 crore through an open market transaction.
Morgan Stanley through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange (NSE).
According to the bulk deal data on the NSE, Morgan Stanley Asia (Singapore) Pte purchased 50 lakh shares, amounting to a 0.8 per cent stake in Paytm.
The shares were acquired at an average price of Rs 487.20 apiece, taking the deal size to Rs 243.60 crore.
Details of the sellers could not be ascertained.
Shares of One97 Communications Ltd, which owns Paytm brand, slumped another 20 per cent on Friday, as the RBI has directed Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.
One97 Communications Ltd (OCL) holds a 49 per cent stake in Paytm Payments bank but classifies it as an associate of the company and not as a subsidiary.
Shares of One97 Communications tumbled 20 per cent to close at Rs 487.20 per piece on the NSE.
In another bulk deal on the NSE, Mauritius-based private equity fund 2I Capital PCC sold shares of Swan Energy Ltd for Rs 164 crore through an open market transaction.
2I Capital PCC offloaded 25 lakh shares of Swan Energy at an average price of Rs 657.27 apiece on the NSE, as per the data.
This took the transaction value to Rs 164.32 crore.
Details of the buyers could not be ascertained.
On Friday, the scrip of Swan Energy jumped 4.76 per cent to settle at Rs 680.10 apiece on the NSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 02 2024 | 9:50 PM IST

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