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Business News/ Markets / Stock Markets/  Morgan Stanley buys Paytm shares worth 244 crore
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Morgan Stanley buys Paytm shares worth ₹244 crore

Morgan Stanley through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange (NSE).

A QR code for the Paytm digital payment system at a roadside tea stall in Mumbai. (Bloomberg)Premium
A QR code for the Paytm digital payment system at a roadside tea stall in Mumbai. (Bloomberg)

Financial services major Morgan Stanley on Friday bought shares of Paytm's parent company One97 Communications for 244 crore through an open market transaction.

Morgan Stanley through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange (NSE).

According to the bulk deal data on the NSE, Morgan Stanley Asia (Singapore) Pte purchased 50 lakh shares, amounting to a 0.8 per cent stake in Paytm.

The shares were acquired at an average price of 487.20 apiece, taking the deal size to 243.60 crore.

Details of the sellers could not be ascertained.

Shares of One97 Communications Ltd, which owns Paytm brand, slumped another 20 per cent on Friday, as the RBI has directed Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.

One97 Communications Ltd (OCL) holds a 49 per cent stake in Paytm Payments bank but classifies it as an associate of the company and not as a subsidiary.

Shares of One97 Communications tumbled 20 per cent to close at 487.20 per piece on the NSE.

In another bulk deal on the NSE, Mauritius-based private equity fund 2I Capital PCC sold shares of Swan Energy Ltd for 164 crore through an open market transaction.

2I Capital PCC offloaded 25 lakh shares of Swan Energy at an average price of 657.27 apiece on the NSE, as per the data.

This took the transaction value to 164.32 crore.

Details of the buyers could not be ascertained.

On Friday, the scrip of Swan Energy jumped 4.76 per cent to settle at 680.10 apiece on the NSE.

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Published: 02 Feb 2024, 09:07 PM IST
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