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

Alibaba Singapore E-commerce on Thursday divested nearly 3 per cent stake in Paytms parent company One97 Communications for Rs 1,031 crore through an open market transaction.

Alibaba Singapore E-commerce sold 1.92 crore shares of the company, amounting 2.95 per cent stake in the company, according to the bulk deal data available with the National Stock Exchange (NSE).

The shares were offloaded at an average price of Rs 536.95 apiece, taking the transaction value at Rs 1,030.94 crore.

Post the latest transaction, Alibabas total shareholding has decreased to 28.19 per cent from 31.14 per cent stake in the company.

On Thursday, Morgan Stanley Asia (Singapore) Pte ODI and Ghisallo Master Fund LP acquired a total of 1.04 crore Paytm shares at an average price of Rs 534.8 per piece.

Shares of Paytm closed 6.16 per cent lower at Rs 543.50 on NSE.

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