China's Alibaba Group is set to reduce its shareholding in Paytm-parent One 97 Communications Ltd. via open market transactions on Tuesday.
Alibaba affiliate Ant Group-backed Antfin Netherlands Holding BV will float 2.6 crore shares, which represents 4% equity, in a block deal, according to terms viewed by NDTV Profit.
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The floor price for each share is set at Rs 809.75, a 6.5% discount to Monday's closing. The Paytm block deal aggregates to Rs 2,065 crore, based on the minimum price. Multinational investment banks Citigroup and Goldman Sachs are the merchants for this deal.
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Antfin owned 9.85% equity in Paytm as of March 2025, according to shareholding pattern data on the BSE. In August 2023, the Chinese technology conglomerate divested a nearly 3.6% stake for Rs 2,037 crore.
Shares of Paytm ended 4% higher at Rs 866.35 on the BSE, ahead of the news, compared to a 3.74% gain in the benchmark Sensex. The stock has risen 151% in the last 12 months and but fallen 13% so far this year.
Paytm improved its profitability for the January–March quarter, despite incurring a one-time loss. On an operational basis, Ebitda loss narrowed to Rs 88.6 crore from a loss of Rs 222.4 crore from the previous quarter. The company achieved Ebitda guidance.
Post fourth-quarter earnings, Motilal Oswal Financial Services Ltd. maintained their view that One97 Communications would turn Ebitda positive by financial year 2027.
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