After stake sale by Alibaba, Singapore in One 97 Communications Ltd aka Paytm, Morgan Stanley Asia (Singapore) has bought fresh stake in bear-hit fintech stock. As per the information available on NSE website, Morgan Stanley Asia (Singapore) has bought 54,95,000 Paytm shares paying ₹534.80 per share. Morgan Stanley has pumped around ₹294 crore in Paytm shares which has shed over 45 per cent in the last one year.
As per the NSE bulk deals, Morgan Stanley has executed this deal on 12th January 2023 through bulk deal. Morgan Stanley bought Paytm shares worth ₹294 crore. Meanwhile, on the same day, the digital payments firm saw a partial exit by one of its early backers with a unit of Alibaba Group Holding Ltd.
Alibaba.com sold out 1.92 crore Paytm shares on the same date. Alibaba offloaded these Paytm shares at a price of ₹536.95 per share. Alibaba offloaded Paytm stocks worth over ₹1,031 crore through the bulk deal executed on Thursday, 12 January, 2023.
Meanwhile, US-based hedge fund, Ghisallo Master Fund also bought stake in Paytm on the same date via open market deal. The Asset Management Company (AMC) has bought 49.80 lakh Paytm shares at a price of ₹534.80 per share. This means, the US-based FII has invested ₹2,66,33,04,000 or near ₹266 crore in the fintech company.
So, despite Alibaba.com sell off, Paytm managed to attract FII investment of ₹560 crore from these two FIIs (Morgan Stanley and Ghisallo Master Fund) in an open market bulk deal executed on 12 January 2023.
The initial public offer (IPO) of One 97 Communications Ltd or Paytm was launched in November 2021 at a price band of ₹2,080 to ₹2,150. The public issue received tepid response from investors and Paytm shares listed at a discount of around 9% against its upper price band of ₹2,150 per equity share. However, the apathy of allottees didn't end here as the stock continue to remain under sell off heat since its listing on BSE and NSE. Paytm share price today is around ₹550 apiece, near 75% lower from its upper price band of ₹2,150 per share.
