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Paytm Share Price: There is news of Antfin selling stake in country’s leading fintech firm Paytm. Chinese billionaire Jack Mana will sell the stake to Alibaba Group’s Antfin through a block deal. Shares of Paytm surged over 3% to hit a 52-week high following the news. Shares of Paytm rose 3.84% to touch a 52-week high of ₹939.00 on the BSE during the trading session.
How much share prepared to sell: According to media reports, Antfin is in a mood to sell 3.6% stake or 23 million shares in Paytm. The stake will be sold by Antfin at a price of ₹880.10 per share. After the deal, Antfin’s stake in Paytm will come down to 9.9%.
Sold share to Vijay Shekhar Sharma: Antfin sold a 10.3% stake to Resilient earlier this month. It is a foreign entity, 100% owned by Paytm founder Vijay Shekhar Sharma. After this deal Vijay Shekhar Sharma The stake in the company has increased to 19.42%.
Meanwhile, Paytm’s shares may be included in MSCI index due to high free float and high weightage. This is indicated in the analysis by Nuwama Alternative and Quantitative Research. Let us know that Paytm’s IPO came in the year 2021. The IPO turned out to be a flop and the stock plummeted. However, Paytm shares have jumped over 73% this year so far.