Financial giant Morgan Stanley made a significant investment on Friday, purchasing shares of Paytm’s parent company, One97 Communications, for ₹244 crore through an open market transaction. The acquisition was carried out by Morgan Stanley Asia (Singapore) Pte – ODI, an affiliate of Morgan Stanley, on the National Stock Exchange (NSE).
In the bulk deal recorded on the NSE, Morgan Stanley Asia (Singapore) Pte acquired 50 lakh shares, representing a 0.8 per cent stake in Paytm. The transaction was executed at an average price of ₹487.20 per share, resulting in a total deal size of ₹243.60 crore. Unfortunately, details regarding the sellers remain undisclosed.
The market response was reflected in a 20 per cent decline in One97 Communications Ltd shares, the parent company of Paytm, on the NSE. This drop was attributed to the Reserve Bank of India’s directive instructing Paytm Payments Bank Ltd (PPBL) to cease accepting deposits or top-ups in various instruments after February 29. One97 Communications Ltd, holding a 49 per cent stake in PPBL, classifies it as an associate rather than a subsidiary.
The shares of One97 Communications closed at ₹487.20 per piece on the NSE, marking a significant downturn.
In a separate bulk deal on the NSE, Mauritius-based private equity fund 2I Capital PCC conducted an open market transaction, selling shares of Swan Energy Ltd for ₹164 crore. 2I Capital PCC sold 25 lakh shares of Swan Energy at an average price of ₹657.27 per share, bringing the total transaction value to ₹164.32 crore. Details about the buyers in this transaction remain undisclosed.
Following this deal, Swan Energy experienced a positive market response, with its stock rising by 4.76 per cent to settle at ₹680.10 per share on the NSE.