Paytm block deal today: Stock in focus as Alibaba's Antfin set to offload entire stake

Shares on One 97 Communications Ltd (Paytm) are in focus on Tuesday morning after Alibaba entity Antfin (Netherlands) Holding BV is looking to offload its entire 5.84 per cent stake (3,72,87,726 shares) in the  digital payments platform at a 5.4 per cent discount to the prevailing stock price. The floor price for the secondary sale is set at Rs 1,020 per share against Monday's closing price of Rs 1,078.20 on NSE, which would fetch Antfin around Rs 3,803.30 crore. This is based on an exchange rate of 87.65 per dollar.

From a high of 30.49 per cent stake in 2019, Antfin had been reducing its shareholding in Paytm for last couple of years. It held 9.85 per cent stake in Paytm at the end of March quarter but sold another 4 per cent stake in May for $246 million via a block deal.

Citigroup Global Markets India Pvt Ltd. and Goldman Sachs (India) Securities Pvt Ltd. are serving as placement agents for the Tuesday's deal, which could account for up to 6.84 per cent of Paytm’s total shares outstanding (TSO). Depending on demand, the sale may be limited to 3.73 million shares, or 5.84 per cent of TSO.

The block trade is scheduled for August 5, with settlement on August 6 (T+1). It will be conducted via a screen-based trading platform and is open to qualified institutional buyers (QIBs), accredited investors in Canada, and eligible clients outside the U.S., in line with applicable securities laws.

The placement, classified as a “clean-up trade,” has no lock-up requirement. Investors must provide execution instructions by 7 AM IST on August 5. The order book will open the same day, and placement agents reserve the right to amend or cancel unfilled orders, with full discretion over allocations — particularly for foreign portfolio investors facing investment headroom limits.
 
Antfin’s strategic exit marks a broader reshaping of Paytm’s shareholding, set against rising investor interest and tighter regulatory scrutiny in India’s digital payments sector.