Morgan Stanley buys Paytm shares despite stake sale by Alibaba

As per the NSE bulk deals, Morgan Stanley has executed this deal on 12th January 2023 through bulk deal. Morgan Stanley bought Paytm shares worth ₹294 crore. Meanwhile, on the same day, the digital payments firm saw a partial exit by one of its early backers with a unit of Alibaba Group Holding Ltd.

Alibaba.com sold out 1.92 crore Paytm shares on the same date. Alibaba offloaded these Paytm shares at a price of ₹536.95 per share. Alibaba offloaded Paytm stocks worth over ₹1,031 crore through the bulk deal executed on Thursday, 12th January, 2023.

Meanwhile, US-based hedge fund, Ghisallo Master Fund also bought stake in Paytm on the same date via open market deal. The Asset Management Company (AMC) has bought 49.80 lakh Paytm shares at a price of ₹534.80 per share. This means, the US-based FII has invested ₹2,66,33,04,000 or near ₹266 crore in the fintech company.

Click here to read latest stock market news

So, despite Alibaba.com sell off, Paytm managed to attract FII investment of ₹560 crore from these two FIIs (Morgan Stanley and Ghisallo Master Fund) in an open market bulk deal executed on 12th January 2023.

Paytm share price history

The initial public offer (IPO) of One 97 Communications Ltd or Paytm was launched in November 2021 at a price band of ₹2080 to ₹2150. The public issue received tepid response from investors and Paytm shares listed at a discount of around 9 per cent against its upper price band of ₹2150 per equity share. However, the apathy of allottees didn’t end here as the stock continue to remain under sell off heat since its listing on BSE and NSE. Paytm share price today is around ₹550 apiece, near 75 per cent lower from its upper price band of ₹2150 per share.