Paytm Block Deal Sees Rs 2,949-Crore Stake Sale, Goldman Sachs And BNP Paribas Among Major Buyers

New Delhi: A group of foreign and domestic institutional investors bought a 3 per cent stake in One97 Communications Ltd, the parent company of Paytm, for nearly Rs 2,949 crore through block deals on Tuesday.

Global investors including Goldman Sachs, BNP Paribas and Societe Generale were among the key buyers in the large transaction.

Foreign investors buy Paytm shares

Other foreign investors that picked up shares included Ghisallo Capital Management, Oxbow Capital Management, North Rock Capital Management, Viridian Asset Management, Vittoria Fund-OC and Integrated Core Strategies (Asia) Pte Ltd.

Together, investors acquired 1,92,10,110 equity shares, representing around 3 per cent of One97 Communications, according to block deal data available on the National Stock Exchange (NSE).

The shares were purchased at an average price of Rs 1,535.10 apiece. The combined value of the transactions stood at Rs 2,948.94 crore.

Mutual funds and insurers participate

Several domestic institutional investors also participated in the deal. These included SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, HSBC Mutual Fund, Sundaram Mutual Fund and Tata Mutual Fund.

Insurance companies ICICI Prudential Life Insurance and Tata AIA Life Insurance also purchased shares of the fintech company.

Resilient Asset Management BV sold an equal number of shares at the same average price, NSE data showed.

Stake sale follows earlier announcement

Paytm had said on Monday that founder Vijay Shekhar Sharma-owned Resilient Asset Management would sell a 4.98 per cent stake in One97 Communications through a block deal.

However, proceeds from the stake sale will be retained by China-based Antfin under its existing Optionally Convertible Debenture agreement with Resilient Asset Management.

Earlier, Antfin had transferred its 10.3 per cent direct stake in One97 Communications to Resilient Asset Management at a valuation of $628 million, while retaining economic rights over the shareholding.

Meanwhile, One97 Communications shares fell 2.15 per cent to close at Rs 1,546.30 on the NSE.