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Paytm shares fall for the first time in 10 days after 3.1% equity exchanges hands in a block deal

Updated : January 12, 2023 22:41:23 IST

[wealthdesk shortname="One 97 Paytm" isinid="INE982J01020" bseid="543396" nseid="PAYTM" sector="Online Services" exchange="nse"] Shares of One 97 Communications Ltd., parent of payments company Paytm fell as much as 8 percent on Thursday after 2 crore shares exchanged hands in a single large trade.

The number of shares exchanged amount to 3.1 percent of the company's total equity.

Shares were exchanged at an average price of Rs 540 per share, amounting to an overall transaction value of Rs 1,126 crore.

Sources within the dealing rooms confirmed to CNBC-TV18 that Alibaba was the seller in this transaction. Based on the latest shareholding patter, Ant Financial holds 25 percent stake in Paytm.

The large deal in Paytm comes just after 0.5 percent of Nykaa's equity had exchanged hands in a large trade earlier this morning.

New age companies like Paytm, Nykaa, PB Fintech and others saw a slew of block deals over a two-month period across November and December as investors sold stake post the end of their respective lock-in periods.

In a regulatory filing on Monday, Paytm said that it disbursed 3.7 lakh crore of loans during December 2022, implying a 117 percent growth from December 2021.

For the December quarter, the cumulative loans grew 11 percent from the preceding September quarter.

In December, Paytm also saw the highest consumer engagement on the Paytm Super App. The average monthly transacting users for the December quarter was 85 million, up 32 percent from the year-ago quarter.

Paytm shares have been under the stress of market bears since its listing on NSE and BSE in November 2021. After falling nearly 75 percent from its IPO price of Rs 2,150, shares staged a recovery from their 52-week low after certain brokerages turned positive citing a favourable risk-reward.

Shares of Paytm are trading 6 percent lower at Rs 545.65. The stock is down for the first time after a nine-day gaining streak.

Published : January 12, 2023 01:31 PM IST

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