Despite stake sale by Alibaba.com Singapore in One 97 Communications Ltd aka Paytm, Morgan Stanley Asia (Singapore) has bought fresh stake in bear-hit fintech stock. As per the information available on NSE website, Morgan Stanley Asia (Singapore) has bought 54,95,000 Paytm shares paying ₹534.80 per share. This means, Morgan Stanley has pumped ₹2,93,87,26,000 or around ₹294 crore in Paytm shares that has shed over 45 per cent in last one year.
As per the NSE bulk deals, Morgan Stanley has executed this deal on 12th January 2023 through bulk deal. In this bulk deal Morgan Stanley bought Paytm shares worth ₹294 crore even though Alibaba.com sold out 1.92 crore Paytm shares on the same date. Alibaba offloaded these Paytm shares at a price of ₹536.95 per share. This means, Alibaba offloaded Paytm stocks worth ₹10,30,94,40,000 or ₹1,031 crore through the bulk deal executed on 12th January 2023.
Meanwhile, US-based hedge fund, Ghisallo Master Fund also bought stake in Paytm on the same date via open market deal. The Asset Management Company (AMC) has bought 49.80 lakh Paytm shares at a price of ₹534.80 per share. This means, the US-based FII has invested ₹2,66,33,04,000 or near ₹266 crore in the fintech company.
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So, despite Alibaba.com sell off, Paytm managed to attract FII investment of ₹560 crore from these two FIIs (Morgan Stanley and Ghisallo Master Fund) in an open market bulk deal executed on 12th January 2023.
Paytm share price history
The initial public offer (IPO) of One 97 Communications Ltd or Paytm was launched in November 2021 at a price band of ₹2080 to ₹2150. The public issue received tepid response from investors and Paytm shares listed at a discount of around 9 per cent against its upper price band of ₹2150 per equity share. However, the apathy of allottees didn’t end here as the stock continue to remain under sell off heat since its listing on BSE and NSE. Paytm share price today is around ₹550 apiece, near 75 per cent lower from its upper price band of ₹2150 per share.
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