Paytm bulk deal: Antfin sells entire stake, Societe Generale buys shares worth Rs 720 cr

Shares of Paytm ended in the red after multiple bulk deals on Tuesday. The Alibaba Group affiliate Antfin (Netherlands) Holding BV exited from Paytm's parent One97 Communications by selling 5.84% stake in two tranches. The stake sale comprised two blocks of 1.86 crore shares at Rs 1,067.53 and Rs 1,067.63 per share respectively, above the floor price of Rs 1,020 apiece. 

The shares were sold to Societe Generale and My Asian Opportunities Master Fund LP, according to BSE data on Tuesday. 

Societe Generale bought 34 lakh shares in bulk deal at a price of Rs 1,067.50 per equity, while Societe Generale ODI purchased 33.5 lakh shares at the same price. The total transaction amounted to Rs 720 crore.

My Asian Opportunities Master Fund LP also bought up 35 lakh shares at Rs 1,067.50 per equity share. Citigroup Global Market India and Goldman Sachs (India) Securities are the bankers to the deal. In May this year, Antfin offloaded 4% stake in the company for nearly Rs 2,065 crore in a block deal, which lowered it overall holding to 5.84%.

Paytm stock ended 2.38% lower to Rs 1052 in the previous session against the previous close of Rs 1078.30 on BSE. Market cap of Paytm fell to Rs 67,189 crore on BSE.