Morgan Stanley Asia (Singapore) has acquired further shares of the fintech firm after Alibaba, Singapore sold its investment in One 97 Communications Ltd., better known as Paytm. According to statistics on the NSE website, Morgan Stanley Asia (Singapore) purchased 54,95,000 shares of Paytm for a price of $534.80 per share. A total of $294 crore has been invested by Morgan Stanley in Paytm shares, which have fallen nearly 45% in the past year.
According to the NSE bulk deals, Morgan Stanley completed this transaction on January 12, 2023, using a bulk deal. Shares of Paytm were purchased by Morgan Stanley for 294 crore. On the same day, one of the digital payments company’s early supporters with an affiliate of Alibaba Group Holding Ltd. witnessed a partial exit.
On the same day, 1.92 crore Paytm shares were sold by Alibaba.com. These Paytm shares were sold by Alibaba for $536.95 per share. Through the bulk transaction completed on January 12, 2023, Alibaba sold Paytm shares worth over $1,031 crore.
On the same day, the US-based hedge fund Ghisallo Master Fund also acquired a stake in Paytm in an open market transaction. At a cost of 534.80 per share, The Asset Management Company (AMC) purchased 49.80 lakh Paytm shares. This indicates that the US-based FII has invested about 266 crore, or $2,66,33,04,000, in the fintech startup.
Therefore, despite Alibaba.com’s sale, Paytm was still able to get a 560 crore FII investment from Morgan Stanley and Ghisallo Master Fund in an open market bulk deal that was completed on January 12, 2023.
Paytm shares price history
One 97 Communications Ltd., the company behind Paytm, launched its initial public offering (IPO) in November 2021 with a price range of 2080 to 2150. Investors’ interest in the public offering was muted, and Paytm shares were listed at a discount of almost 9% to its upper price band of 2150 per equity share. The stock has been on a sell-off since it listed on the BSE and NSE, thus the allottees’ disinterest hasn’t ended here. Currently, the share price of Paytm is about 550, or almost 75% less than its upper price band of 2150.