Ant Group offloads 4% stake in Paytm

ANT GROUP, PART of Chinese global conglomerate Alibaba Group, sold 4% stake in digital payments firm Paytm's parent One97 Communications through block deals on Tuesday.

- NESIL STANEY

Shares were sold in the price range of ₹823.30-₹836.04 each, reflecting a 5-6% discount to the market price, according to BSE filings. The sale comes amid shifting geopolitical dynamics and portfolio rebalancing by foreign investors.

Shares of the company on Tuesday ended 1.13% lower at ₹856.55 on the BSE. The stock is down 13.3% year to date. During the day, it dropped 4.99% to ₹823.10. On the NSE, shares dipped 1.16% to settle at ₹856. During the day, the stock tanked 4% to ₹830.55. In volume terms, 30.74 million shares were traded on the BSE and 24.45 million shares exchanged hands on the NSE during the day.