One97 Communications, parent company of Paytm, share price will remain in focus in Tuesday’s trading session amid reports of Ant Financial, the fintech arm of Alibaba Group, planning to offload shares worth around ₹2,200 crore in Paytm’s parent company through block deals today.
The shares are expected to be offered at a minimum price of ₹809.7 each, which is approximately 6.4% lower than Paytm’s closing price of ₹866 on Monday. Ant Financial, which currently holds a 9.85% stake in Paytm, is likely to sell about 4% of its shareholding through this deal.
According to soruces, Goldman Sachs (India) Securities Pvt Ltd and Citigroup Global Markets India Pvt Ltd are serving as placement agents for the stake divestment.
(This is a developing story)
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