Morgan Stanley buys Paytm shares worth Rs 244 crore
By Justin | Published | No Comments
Financial services major Morgan Stanley on Friday purchased shares of Paytm parent company One97 Communications for Rs 244 crore through open market transactions. Morgan Stanley, through its affiliate Morgan Stanley Asia (Singapore) Pte – ODI, has acquired the shares of Noida-based Paytm parent One97 Communications on the National Stock Exchange (NSE).
According to NSE block transaction data, Morgan Stanley Asia (Singapore) Pte Ltd bought 5 million Paytm shares, equivalent to a 0.8% stake in Paytm. The average price of these shares was 487.20 rupees per share and the transaction size reached 2,436 crore rupees.
Unable to determine seller details. Shares of One97 Communications Ltd, which owns the Paytm brand, fell another 20% on Friday as the Reserve Bank of India directed Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or recharges from any customer accounts, wallets, FASTags and other instruments after February 29.
One97 Communications Ltd (OCL) holds 49% stake in Paytm Payments Bank but classifies it as an associate of the company rather than a subsidiary. Shares of One97 Communications fell 20 per cent to close at Rs 487.20 apiece in NSE trade.
In another big 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. Data showed that 2.5 million Swan Energy shares were sold by 2I Capital PCC on the NSE at an average price of Rs 657.27 per share.
This takes the transaction value to Rs 1,643.2 crore. Unable to determine buyer details.
On Friday, Swan Energy shares rose 4.76% to close at Rs 680.10 apiece on the NSE.
Follow us on Google news ,Twitter , and Join Whatsapp Group of thelocalreport.in
Latest posts
