Ant Financial to sell shares worth Rs 2,200 crore in Paytm parent
MUMBAI:
Ant Financial
, the
fintech
arm of Chinese
e-commerce
giant Alibaba Group, is planning to offload
shares
worth nearly Rs 2,200 crore in
One97 Communications
, the parent
company
of
Paytm
, via block deals on Tuesday.
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Shares are likely to be offered at a floor price of Rs 809.7 apiece — a 6.4% discount to Paytm's closing price of Rs 866 on Monday. Paytm shares gained 4% during Monday's trade on BSE ahead of the anticipated transaction. Ant Financial, which currently holds a 9.85% stake in Paytm, is expected to sell around 4% of its holding through this block deal.
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