Alibaba sells 3% stake in large block deal -Paytm shares down 9%, negative news for investors

Spread the love

Overview

Alibaba sells 3%

The last month announced an Rs 850 crore share buyback program, have so far plunged around 74.5% from its IPO issue price of Rs 2,150.Shares of Paytm.

Reuters reports, Alibaba, which held a 6.26% stake in Paytm as of end-September, sold 3.1% stake in the company for a total of $125 million through a block deal at a price of Rs 536.95 per share.

Alibaba
  • In a recent report, brokerage firm Morgan Stanley said the fintech would be a key beneficiary of India‚Äôs UPI incentive scheme of Rs 2600 crore for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) for FY23.

Read more Articles here

Open Your Demat Account with Discount Brokers:

ZERODHA 1) : https://zerodha.com/open-account?c=EJ4366 

Angelone 2) : https://tinyurl.com/2gloc3g6 or

Upstox3): https://link.upstox.com/9w4tNo1rK8au7VK47


Spread the love

Leave a Comment