Block deal of ₹ 3,800 crore in the stock market on Tuesday, Paytm to Alibaba’s full exit! Stir of investors

Mumbai. Tuesday is going to bring a big stir in the stock market. As soon as the market opens, there is going to be a heavy block deal, the price of which is being said to be around ₹ 3,800 crore. The special thing is that this deal is related to the country’s famous digital payment company Paytm, in which foreign investors are going to sell their entire stake.

Who is selling shares?
According to information received from sources, the Dutch unit of Alibaba Group Antfin (Netherlands) is selling its entire 5.84% stake in Paytm’s parent company One97 Communications. For this, a total of 3.72 crore shares will be sold, which will be done directly through the block deal in the open market.

How much will this deal be done?

The price per share for this deal has been fixed at ₹ 1,020, which is at the discount of Monday’s closing price ₹ 1,079.90 to about 5.5% discount. That is, investors will get shares in cheap prices, but this can also create a stir in the market.

Where does Paytm share stand?
On Monday, Paytm’s stock closed with a slight increase and in the last 6 months it has got a tremendous jump of about 38%. In such a situation, selling such a huge stake in one stroke indicates that foreign investors are now gradually wanting to get out.

Citi will become a broker

The responsibility of brokering this deal has been entrusted to the CITI company, which will handle this entire transaction.