Mumbai: Shares of One97 Communications Ltd, the parent company of Paytm, declined marginally on Tuesday after stock worth Rs 2,380 crore changed hands in multiple large trade order involving 1.7 crore shares.
While the buyers and sellers in the trade were not known, reports suggested that Alibaba Group’s subsidiary Antfin was the likely seller.
According to reports, Antfin, the second largest shareholder in One 97 Communications with a stake of 9.85 per cent, sought to offload 4 per cent stake in the financial services major.
The fintech giant had set the floor price at Rs 809.75 apiece, marking a 6 per cent discount from the previous close.
Multinational investment banks Citigroup and Goldman Sachs are the merchants for this deal, reports NDTV profit.
Shares of Paytm fell as much as 4.10 per cent to Rs 830.55 apiece, the lowest level since May 9. It later pared losses to trade 2 per cent lower at Rs 849 apiece.
The stock has risen 145.24 per cent in the last 12 months and fallen 16.73 per cent year-to-date.
Last week, One97 Communications Limited reported a 15.7 per cent drop in revenue to Rs 1,911.5 crore for the January-March 2025 period (Q4 FY25), compared to Rs 2,267.1 crore in the same quarter of the last fiscal (Q4 FY24).
The weaker revenue performance comes despite an increase in other income, which rose by nearly Rs 100 crore to Rs 223.8 crore, as per the company’s stock exchange filing. However, that wasn’t enough to offset broader pressures, and the company reported a net loss of Rs 544.6 crore for the quarter.