Paytm block deal: The news about the country’s well -known Fintech company Paytm has come out that China’s Ant Group is going to sell its shares. One of the big shareholders of One 97 Communications is Ant Group of China. But, according to the news of Reuters, this Ant Group of China is ready to sell its entire stake to 5.84 percent for Rs 3803 crore i.e. Rs 38 billion through a blog deal on August 5. Significantly, Atifin is a colleague of China’s Alibaba Group. It was earlier also known as Ant Finanneasia.

China’s company will sell stake from Paytm

Within the last two years, many big investors have sold their stake in Paytm, including Japan’s soft bank group and Warren Buffett company Berkshire Hathaway. Goldman Sachs India Securities and City Group Markets India will lead the deal. However, so far no response has been given by Ant Group or Forest 97 Communications.

Ant Finn was continuously decreasing its stake in Paytm for the last two years. Earlier, in May 2023, Ant Group sold its stake of 10.3 percent in May and then in August 2023. According to reports, equity shares worth 3.77 crore will be sold in this deal, which is 5.84 percent of Paytm’s outstanding shares. The floor price has been kept at Rs 1020 per share.

PTM shares boom

During the last one month, Paytm shares have risen by 16.01 percent. On Monday, its stock saw a 0.33 percent increase and during a year it has given a tremendous 116.24 percent of investors.

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