Shares of Paytm parent One 97 Communications rose by more than 2% in intraday deals on Thursday, 20 August, looking set to extend gains for the second consecutive session. The stock witnessed traction after Resilient Asset Management, a company wholly owned by Paytm founder and CEO Vijay Shekhar Sharma, offloaded 1.92 crore shares through block transactions on Tuesday.
An exchange filing on 20 August, dated 19 August, by Paytm revealed that Resilient Asset Management B.V. sold 1,92,10,110 shares, or 3% stake, of Paytm on 18 August.
After the share sale, Resilient held 4,61,24,991 shares, or 7.20% stake in Paytm. Promoter Vijay Shekhar Sharma continues to hold 5,78,45,053 shares, or 9.02% stake, while his wife Mridula Sharma holds 7,00,000 shares, or 0.11% stake, in the company.
Earlier, Mint reported that Resilient Asset Management B.V. planned to sell up to ₹4,895 crore ($513 million) worth of shares in One 97 Communications Ltd through secondary-market block transactions on Tuesday.
The transaction includes a base offering of up to 19.2 million shares, representing 3% of the company’s total outstanding equity, valued at ₹2,949 crore ($309 million).
Paytm share price trend
Paytm shares hit a 52-week high of ₹1,656 on 14 August after hitting a 52-week low of ₹947.10 on 30 March this year.
Year-to-date, the stock has climbed 25% compared to a 9% loss in the equity benchmark Sensex.
Over the last 1 year, the stock has gained 29%, while in the last 2 years, it has delivered a multibagger return of 181%.
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