Business · India Bureau
Paytm shares slip further as nearly 3% stake trades in block deal
Paytm's share price extended its recent downward momentum as a substantial block trade changed hands on the stock exchanges. The transaction involved nearly 19 million shares representing close to 3% of the fintech company's equity.
LSN India ·
Paytm's equity shares continued their declining trajectory following a significant block trade that saw 18.9 million shares exchange hands, according to market alerts issued during the trading session. The transaction represented 2.95% of the company's total equity stake, marking a notable shift in shareholding patterns.
The block trade added to selling pressure on the Noida-based digital payments and financial services platform, which has faced investor scrutiny in recent months. The large share movement was picked up by market surveillance systems and highlighted in exchange alerts to market participants.
Paytm, which counts SoftBank Vision Fund, Alibaba, and several other institutional investors among its shareholders, has experienced volatile trading since its initial public offering in November 2021. The company's share performance has been closely watched by investors tracking the digital payments sector in India.
The identity of the buyer and seller in the block trade was not immediately disclosed in the exchange alerts. Such large transactions typically involve institutional investors or significant shareholders adjusting their portfolio positions.