01-12-2023 03:11 PM | Source: Reuters
Alibaba sells Paytm stake worth $125 million via block deal
BENGALURU - China's Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm worth $125 million through a block deal on Thursday, a source with direct knowledge of the matter told Reuters.
Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece, the source said.
Paytm's stock fell as much as 8.8% to 528 rupees in afternoon trading, and was last down 5.8% as of 2:37 p.m. IST.
Morgan Stanley advised Alibaba on the deal, the source said.
Alibaba and Morgan Stanley did not immediately respond to Reuters' requests for comment.
Latest News
SAIL inks pact with Administrative Staff College of ...
NSE clocks 57 pc surge in net profit at Rs 3,137 cro...
Sell Johnson Controls-Hitachi Air Conditioning Ltd ...
Kartik Aaryan mobbed by fans at Mumbai?s Gaiety Gala...
Sarbananda Sonowal inaugurates key infra projects to...
B?town divas Kriti Sanon, Dhanashree Verma spotted a...
Kartik Aryan spotted in Mumbai
Rollover Analysis Report - November-2024 by Religare...
Neutral TVS Motor Company Ltd For Target Rs.2,610 By...
Buy SBI Life Insurance Ltd For Target Rs.2,100 By Mo...