Paytm Bulk Deal: Societe Generale Purchases Rs 720 Crore Stake As Antfin Exits

Alibaba Group affiliate Antfin (Netherlands) Holding B V has pared its entire stake in Paytm parent One97 Communications Ltd. to Societe Generale and My Asian Opportunities Master Fund LP, according to BSE data on Tuesday.

The seller offloaded its entire stake of 5.84% in two tranches of 1.86 crore shares, at Rs 1,067.53 and Rs 1,067.63 per share respectively, above the floor price of Rs 1,020 apiece.

Societe Generale purchased 34 lakh shares in the bulk deal at a price of Rs 1,067.50 per equity, while Societe Generale ODI mopped up 33.5 lakh shares at the same price. The total transaction amounted to Rs 720 crore.

My Asian Opportunities Master Fund LP mopped up 35 lakh shares also at Rs 1,067.50 per equity share.

Citigroup Global Market India Pvt. and Goldman Sachs (India) Securities Pvt. are the bankers for the deal.

Antfin in May had offloaded 4% stake in the company for nearly Rs 2,065 crore in a block deal, which lowered it overall holding to 5.84%.

In August 2023, the Alibaba Group affiliate divested a nearly 3.6% stake for Rs 2,037 crore. Additionally, the Chinese e-commerce major had, in 2023, transferred its 10.3% stake in Paytm to the fintech firm's founder and CEO Vijay Shekhar Sharma.

It was after this that Sharma became the sole significant beneficial owner and operator of Paytm. However, despite this, Sharma continued to remain a non-promoter in the company.

Shares of the company on Tuesday closed 2.38% lower at Rs 1,052.65 apiece, as compared to a 0.38% fall in the benchmark BSE Sensex.