On Monday, August 17, CNBC-TV18 had reported that Resilient Asset Management BV, was set to sell up to 4.98% stake in the fintech firm that owns the Paytm brand via a block deal. The base offer size was at 3% and upsize option was of 1.98%, as per sources.
The floor price had been set at ₹1,535.1 apiece, sources said.
At the end of the June quarter, Resilient Asset Management BV held 10.2% stake in the One97 Communications, as per data available on the stock exchanges. In his individual capacity, Vijay Shekhar Sharma held 9.03% stake in Paytm at the end of the June quarter.
Earlier this month, One97 Communications witnessed another block deal as 1.49 crore of its shares amounting to 2.3% of its outstanding equity had changed hands at an average price of ₹1,367.8 apiece, resulting in the total transaction value of ₹2,038 crore.
The transaction being carried out by Resilient, is under the existing OCD arrangement with Antfin and as per this arrangement, the proceeds of this transaction will be retained by Antfin.
The transaction also further trims Ant Financial’s remaining indirect economic exposure/link to Paytm.
At the end of the first quarter, Saif Partners India IV Ltd held 3.63% stake in the firm and Saif III Mauritius Company held 8.55%. Elevation Capital’s holding in the company was not disclosed in the stock exchanges data, meaning their stake was less than 1%.Paytm also reported its first quarter results last month, with its consolidated net profit rising 79% to ₹220 crore from the previous year and 20% from the previous quarter.
Its revenue from operations were up 28% at ₹2,448 crore from last year and 8% on a sequential basis.
Paytm shares ended the previous session 0.9% lower at ₹1,589 apiece. The stock has increased 17.9% in the past month and 23% this year, so far.
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