Morgan Stanley buys Paytm shares worth Rs 244 crore amid fall in shares after RBI directive

Morgan Stanley Paytm stake: Financial giant Morgan Stanley has acquired shares of Paytm's parent company, One97 Communications, in a transaction valued at Rs 244 crore. The purchase, executed through Morgan Stanley Asia (Singapore) Pte - ODI, involved buying 50 lakh shares on the National Stock Exchange (NSE), equating to a 0.8 per cent stake in Paytm.

The bulk deal data on the NSE reveals that Morgan Stanley Asia (Singapore) Pte secured these shares at an average price of Rs 487.20 each, resulting in a total deal size of Rs 243.60 crore. However, details about the specific sellers in this transaction have not been disclosed.

This investment comes amidst challenging times for Paytm, as shares of One97 Communications Ltd, the parent company of Paytm, experienced a 20 per cent decline on the same day. The drop follows the Reserve Bank of India's directive to Paytm Payments Bank Ltd (PPBL) to cease accepting deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29.

Despite being a significant shareholder in Paytm Payments Bank with a 49 per cent stake, One97 Communications Ltd categorises it as an associate rather than a subsidiary.

The closing stock price of One97 Communications stood at Rs 487.20 per share on the NSE after the turbulent trading session.

(With PTI inputs.)