Paytm’s stock experienced a notable decline of over 4% during early trading on Friday, prompted by reports of a significant block deal in the company’s shares. The share price of Paytm dropped by 4.63% to ₹880.00 on the BSE.
Media sources indicate that a substantial block deal occurred in the shares of One 97 Communications, the parent company of Paytm. Approximately 1.6 crore Paytm shares, equivalent to 2.56% of the equity, were involved in the transaction. The trade transpired at an average price of ₹884 per share, resulting in a total deal value of ₹1,441 crore.
As of now, specific details regarding the buyers and sellers involved in the block deal of Paytm shares are not yet available.
Despite this recent decline, Paytm shares had witnessed a commendable rally earlier in the year.
At 9:30 am, during the trading session, Paytm shares were down by 2.35%, trading at ₹901.10 each on the BSE.