Paytm Block Deal: 2.95% Stake Worth Rs 2,949 Crore Changes Hands

Shares of One97 Communications, the parent company of Paytm, witnessed a significant block deal on August 18, with around 1.92 crore shares, representing 2.95% of the company’s equity, changing hands in a transaction valued at approximately Rs 2,949 crore. The shares were traded at Rs 1,535.10 apiece, around 2.9% below Paytm’s previous closing price of Rs 1,580.20. Resilient Asset Management B.V., an entity linked to Paytm founder Vijay Shekhar Sharma, was reported to be the likely seller. The transaction follows reports that the promoter entity planned to offload up to 4.98% of Paytm’s equity through a block deal, potentially raising as much as Rs 4,895 crore.