Paytm Blockdeal: Goldman Sachs, BNP Paribas Among Key Buyers in Rs 2,949-Cr Stake Sale

New Delhi: A clutch of foreign and domestic institutional investors, including Goldman Sachs, BNP Paribas, and Societe Generale, together on Tuesday bought a 3 per cent stake in One97 Communications Ltd, the parent company of Paytm, for Rs 2,949 crore through open market transactions.

Other foreign investors that bought shares included Ghisallo Capital Management, Oxbow Capital Management, North Rock Capital Management, Viridian Asset Management, Vittoria Fund-OC – a hedge fund owned by Pathstone Family Office LLC, and Integrated Core Strategies (Asia) Pte Ltd.

These entities acquired a total of 1,92,10,110 equity shares, representing a 3 per cent stake in the Noida-based One97 Communications Ltd, according to the block deal data on the National Stock Exchange (NSE).

Domestic institutional investors, including SBI Mutual Fund (MF), Aditya Birla Sun Life MF, HDFC MF, Kotak Mahindra MF, HSBC MF, Sundaram MF and Tata MF, also participated in the transaction.

Among insurers, ICICI Prudential Life Insurance Company and Tata AIA Life Insurance also purchased the shares of the fintech firm.

Paytm shares were picked up at an average price of Rs 1,535.10 apiece, taking the combined deal size to Rs 2,948.94 crore.

Meanwhile, Resilient Asset Management BV sold an equal number of shares at the same price, as per the NSE data.

Shares of One97 Communications declined 2.15 per cent to close at Rs 1,546.30 apiece on the NSE.

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

The proceeds from the sale, however, will be retained by China-based Alibaba Group firm Antfin under its existing Optionally Convertible Debenture agreement with Resilient Asset Management, according to a regulatory filing.

Antfin had transferred its 10.3 per cent direct stake in One97 Communications, which owns the Paytm brand, to Resilient Asset Management at a total valuation of USD 628 million, while retaining economic rights on the shareholding.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)