City
Epaper

Morgan Stanley Buys Patym Shares Worth ₹244 crore after RBI Action

By Lokmat English Desk | Updated: February 4, 2024 20:41 IST

Open in App
1 / 6
Financial services giant Morgan Stanley on Friday made an investment in Paytm's parent company, One97 Communications, by acquiring shares worth ₹244 crore through an open market transaction.
2 / 6
Morgan Stanley, via its affiliate Morgan Stanley Asia (Singapore) Pte - ODI, purchased 50 lakh shares on the National Stock Exchange (NSE), representing a 0.8 per cent stake in Paytm.
3 / 6
The average price per share was ₹487.20, resulting in a total deal size of ₹243.60 crore. However, details about the sellers remain undisclosed, PTI reported.
4 / 6
Paytm shares price faced another 20 per cent decline on the NSE. This adds to a total of 36 per cent drop in the share price in just 2 days after the Reserve Bank of India (RBI) directed Paytm Payments Bank Ltd (PPBL), an associate of Paytm, to cease accepting deposits or top-ups in various accounts, wallets, and instruments from March 1.
5 / 6
One97 Communications Ltd (OCL) holds a 49 per cent stake in Paytm Payments Bank, while Vijay Shekhar Sharma, founder of One97 Communications, has the other 51 per cent stake.
6 / 6
The shares of One97 Communications closed at ₹487.20 per piece on the NSE.In related news, there are reports that the RBI is contemplating revoking the license of Paytm Payments Bank as early as next month.
Tags: PatymMorgan Stanley
Open in App

Related Stories

BusinessSuzlon Energy Stock: Morgan Stanley Raises Target to Rs 71, Predicts Further Gains

InternationalJonathan Bloomer Passes Away: Morgan Stanley International Chairman Dies in Italy's Yacht Tragedy

InternationalJonathan Bloomer Missing: Morgan Stanley Chairman Among Missing After Luxury Yacht Sinks

BusinessPaytm Layoffs: Company to Layoff 20% Staff Across Departments

NationalRBI Extends Deadline for Paytm Payments Bank Transactions by 15 Days

Business Realted Stories

BusinessDeepak Nitrite's Q1 profit tanks 45 pc, revenue declines

BusinessOdisha Cabinet approves proposal for construction of world-class MRO facility in Bhubaneswar

BusinessPM Modi hails India’s landmark achievement of 100 GW Solar PV module manufacturing capacity

BusinessIndian food industry urged to make 'truthful, honest declarations' on packaging labels

BusinessHG Infra’s Q1 profit falls 39 pc to Rs 99.2 crore