Paytm Parent Block Deal: Goldman Sachs Buys 3% Stake

One97 Communications Ltd, Paytm’s parent company, saw a 3% stake acquired for approximately Rs 2,949 crore through block deals on Tuesday. This significant transaction involved a consortium of foreign and domestic institutional investors.

Major Institutional Acquisitions

Key global players included Goldman Sachs, BNP Paribas, and Societe Generale. Several other foreign investors also participated in the acquisition.

• Goldman Sachs
• BNP Paribas
• Societe Generale
• Ghisallo Capital Management
• Oxbow Capital Management
• North Rock Capital Management
• Viridian Asset Management
• Vittoria Fund-OC
• Integrated Core Strategies (Asia) Pte Ltd

Domestic institutional investors, including major mutual funds and insurance companies, also secured stakes in the block deal.

• SBI Mutual Fund
• Aditya Birla Sun Life Mutual Fund
• HDFC Mutual Fund
• Kotak Mahindra Mutual Fund
• HSBC Mutual Fund
• Sundaram Mutual Fund
• Tata Mutual Fund
• ICICI Prudential Life Insurance
• Tata AIA Life Insurance

Transaction Details

Investors collectively purchased 1,92,10,110 equity shares. The combined value of these transactions reached Rs 2,948.94 crore.

• Shares acquired: 1,92,10,110 equity shares
• Average price: Rs 1,535.10 per share
• Total value: Rs 2,948.94 crore

Resilient Asset Management BV sold an equivalent number of shares at the same average price. The proceeds from this stake sale will be retained by China-based Antfin, as per an existing Optionally Convertible Debenture agreement with Resilient Asset Management.

This follows Antfin’s earlier transfer of its 10.3% direct stake in One97 Communications to Resilient Asset Management. That previous transfer was valued at $628 million, with Antfin retaining economic rights over the shareholding.

Market Reaction

Following these significant transactions, One97 Communications shares experienced a 2.15% decline. The stock closed at Rs 1,546.30 on the NSE.