Modern Bharat
Paytm Share: Huge upheaval possible in Paytm's stock, SoftBank may sell shares worth $200 million
Business

Paytm Share: Huge upheaval possible in Paytm’s stock, SoftBank may sell shares worth $200 million


Paytm Share Price: There can be a big upsurge in Paytm Share Price in Thursday’s trading session. According to media reports, Japanese giant SoftBank Group, invested in Paytm, may sell $ 200 million worth of shares of Paytm’s parent company One97 Communications through a block deal.

It is believed that this block deal is possible at a price of Rs 555 to 601 per share. The lower band price fixed for the block deal is 7.79 per cent lower than Wednesday’s closing price of Rs 601.45. SoftBank holds 17.45 per cent stake in Paytm. After this block deal, SoftBank’s stake will come down to 12.9 per cent. SoftBank had invested $1.6 billion in Paytm.

The lock-in period for investors who invested in Paytm before the pre-IPO period is ending on November 18, 2022. It is believed that under this development, SoftBank is going to sell its stake. Paytm’s stock is currently trading 72% below its IPO price of Rs 2150. In November last year, Paytm had brought its IPO and on November 18, 2021, the company’s shares were listed on the stock exchange. Since then the stock has disappointed investors.

In fact, the lock-in period is going to end for anchor investors investing in many companies listed in the market in November. Anchor investors can exit from investing in these shares, due to which there is a possibility of a fall in the shares of these companies. Recently the lock-in period of Nykaa and PolicyBazaar has ended. Now pressure is being seen on the shares of these companies.

News Reels

read this also

RBI Governor: In a meeting with MD-CEOs of banks, RBI Governor expressed concern over the decrease in deposits growth rate!



Source link

Related posts

Knowing the net worth of Deepika Padukone, the senses will be blown away, charges so much for a film

MB Desk

Manufacturing Processes: Manufacturing units got huge strength in festive season, increased demand

MB Desk

iPhone 12 worth Rs 65,900 is available in Amazon Sale for less than 40 thousand rupees!

MB Desk

Dhamaal feature will be available on WhatsApp, users will be able to share Voice Notes on Status

MB Desk

Great deal to buy OnePlus 10R 5G cheaply, Amazon is giving huge discounts.

MB Desk

The purchase of Pixel 7 was fierce! Stock out within few hours of pre order

MB Desk

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More