Worth Rs. 244 crore, Morgan Stanley purchases Paytm shares

Major player in financial services Morgan Stanley purchased One97 Communications, the parent firm of Paytm, for Rs 244 crore on Friday. Shares of One97 Communications, the parent company of Paytm, located in Noida, were acquired by Morgan Stanley via its subsidiary Morgan Stanley Asia (Singapore) Pte – ODI and listed on the National Stock Exchange (NSE).

Morgan Stanley Asia (Singapore) Pte acquired 50 lakh shares, or 0.8% of Paytm, based on the NSE’s bulk transaction data. The transaction value increased to Rs 243.60 crore when the shares were purchased at an average cost of Rs 487.20 per.

It was unable to find out the vendors’ details. Since the RBI has ordered Paytm Payments Bank Ltd (PPBL) to cease taking deposits or top-ups in any client accounts, wallets, FASTags, and other instruments after February 29, shares of One97 Communications Ltd, the company that owns the Paytm brand, fell further 20% on Friday.

Despite owning a 49% share in the Paytm Payments bank, One97 Communications Ltd (OCL) views the business as an associate rather than a subsidiary. One97 Communications’ shares fell 20% to settle at Rs 487.20 a share on the NSE.

Another large deal on the NSE was the open market sale of Swan Energy Ltd. shares by Mauritius-based private equity firm 2I Capital PCC for Rs 164 crore. According to the data, 2I Capital PCC sold off 25 lakh Swan Energy shares on the NSE at an average price of Rs 657.27 per.

The transaction value increased to Rs 164.32 crore as a result. It was unable to find out the purchasers’ details.

Swan Energy’s shares increased 4.76% on Friday, closing at Rs 680.10 a share on the NSE.