Ecommerce News

Alibaba Singapore E-commerce sells 3% stake worth ₹1,031 crore

(PTI) Alibaba Singapore E-commerce on Thursday divested nearly 3 per cent stake in Paytm’s parent company One97 Communications for 1,031 crore through an open market transaction.

Alibaba Singapore E-commerce sold 1.92 crore shares of the company, amounting 2.95 per cent stake in the company, according to the bulk deal data available with the National Stock Exchange (NSE).

The shares were offloaded at an average price of 536.95 apiece, taking the transaction value at 1,030.94 crore.

Post the latest transaction, Alibaba’s total shareholding has decreased to 28.19 per cent from 31.14 per cent stake in the company.

On Thursday, Morgan Stanley Asia (Singapore) Pte ODI and Ghisallo Master Fund LP acquired a total of 1.04 crore Paytm shares at an average price of 534.8 per piece.

Shares of Paytm closed 6.16 per cent lower at 543.50 on NSE.

First Published: 13 Jan 2023, 08:27 AM IST

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