Paytm shares fall 9% intraday following reports of Alibaba’s stake sale through bulk deals

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Paytm shares fell about 9% intraday on the BSE on Thursday (January 12), to INR 528.35, after reportedly 3.1% of the startup’s equity shares changed hands in a series of block deals.

The drop came after Paytm shares gained in nine consecutive sessions since last week, demonstrating strong upward momentum. On the BSE, its shares closed 6.4% lower at INR 542.25 today. According to a CNBC Awaaz report, Alibaba-owned Ant Financial is likely to have sold 2 billion Paytm shares in bulk. According to the report, the shares were exchanged at an average price of INR 540 per share, for a total transaction value of INR 1,126 Cr.

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Paytm shares fall 9% intraday following reports of Alibaba’s stake sale through bulk deals

Paytm shares fell about 9% intraday on the BSE on Thursday (January 12), to INR 528.35, after reportedly 3.1% of the startup’s equity shares changed hands in a series of block deals.

The drop came after Paytm shares gained in nine consecutive sessions since last week, demonstrating strong upward momentum. On the BSE, its shares closed 6.4% lower at INR 542.25 today. According to a CNBC Awaaz report, Alibaba-owned Ant Financial is likely to have sold 2 billion Paytm shares in bulk. According to the report, the shares were exchanged at an average price of INR 540 per share, for a total transaction value of INR 1,126 Cr.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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