Morgan Stanley buys ₹244 cr Paytm shares as 0.8% stake amid stock downturn
Financial services giant Morgan Stanley on Friday made a notable investment in Paytm’s parent company, One97 Communications, by acquiring shares worth ₹244 crore through an open market transaction. FILE PHOTO: Paytm shares drop 6 per cent in just two days.(REUTERS) Morgan Stanley, via its affiliate Morgan Stanley Asia (Singapore) Pte – ODI, purchased 50 lakh shares on the National Stock Exchange (NSE), representing a 0.8 per cent stake in Paytm. The average price per share was ₹487.20, resulting in a total deal size of ₹243.60 crore. However, details about the sellers remain undisclosed, PTI reported. Catch the complete coverage of Budget 2024 only on HT. Explore now! ALSO READ- Paytm’s Vijay Shekhar Sharma assures users app will keep working beyond Feb 29 Paytm shares price Paytm shares price faced another 20 per cent decline on the NSE. This adds to a total of 36 per cent drop in the share price in just 2 days after the Reserve Bank of India (RBI) directed Paytm Payments Bank Ltd (PPBL), an associate of Paytm, to cease accepting …