Morgan Stanley buys shares of Paytm parent firm worth Rs 244 Cr
Morgan Stanley, through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI, picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange.
Financial services major Morgan Stanley has bought shares of 's parent company for Rs 244 crore through an open market transaction on Friday.
Morgan Stanley, through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI, picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange (NSE).
According to the bulk deal data on the NSE, Morgan Stanley Asia (Singapore) Pte purchased 50 lakh shares, amounting to a 0.8% stake in Paytm. The shares were acquired at an average price of Rs 487.20 apiece, taking the deal size to Rs 243.60 crore.
Details of the sellers could not be ascertained.
Shares of One97 Communications Ltd, which owns Paytm brand, slumped another 20% on Friday, as the RBI has directed Paytm Payments Bank Ltd to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.
One97 Communications Ltd holds a 49% stake in Paytm Payments Bank but classifies it as an associate of the company and not as a subsidiary.
Shares of One97 Communications tumbled 20% 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 apiece on the NSE, as per data. This took the transaction value to Rs 164.32 crore.
Details of the buyers could not be ascertained.
On Friday, the scrip of Swan Energy jumped 4.76% to settle at Rs 680.10 apiece on the NSE.