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Financial services major Morgan Stanley on Friday bought shares of Paytm’s parent company One97 Communications for Rs 244 crore through an open market transaction. Morgan Stanley, through its subsidiary Morgan Stanley Asia (Singapore) Pte, ODI acquired shares of Paytm’s parent company, Noida-based One97 Communications, on the National Stock Exchange (NSE).
According to NSE bulk transaction data, Morgan Stanley Asia (Singapore) Pte bought 50 lakh shares, which is equivalent to a 0.8 per cent stake in Paytm. The shares were purchased at an average price of Rs 487.20 each, taking the transaction size to Rs 243.60 crore.
Details of the sellers could not be determined. Shares of One97 Communications Ltd, which owns the Paytm brand, fell another 20 per cent on Friday as the RBI ordered Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or recharges into customer accounts, wallets, FASTags and other instruments. after February 29.
One97 Communications Ltd (OCL) owns a 49 per cent stake in Paytm Payments bank, but classifies it as an associate of the company and not a subsidiary. Shares of One97 Communications fell 20 per cent to close at Rs 487.20 per piece on the NSE.
In another bulk 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. 2I Capital PCC offloaded 25 lakh shares of Swan Energy at an average price of Rs 657.27 each on the NSE, according to the data.
This took the transaction value to Rs 164.32 crore. Details of the buyers could not be determined.
On Friday, Swan Energy scrip jumped 4.76 per cent to settle at Rs 680.10 apiece on the NSE.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed. PTI)
first published: February 3, 2024, 11:45 IST
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