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HomeMarket NewsStocks NewsAntfin likely to offload 5.84% stake in Paytm via ₹3,800 crore clean-out block deal
The total deal size is pegged at ₹3,800 crore, sources in the know told CNBC-TV18. The floor price for the block deal has been set at ₹1,020 per share. Shares of One 97 Communications Ltd ended at ₹1,078.30, up by ₹2.50 or 0.23%, on the BSE today (August 4).
China's Alibaba Group firm Antfin (Netherlands) Holding BV is expected to sell a 5.84% equity stake in Paytm parent company — One 97 Communications — through block deals, sources privy to the developments told CNBC-TV18.
The total deal size is pegged at ₹3,800 crore, the sources told CNBC-TV18. The floor price for the block deal has been set at ₹1,020 per share, the sources added. The transaction will be executed as a clean-out trade, indicating a full exit of Antfin’s specified stake in a single tranche.
First quarter results
The Paytm parent reported a net profit of ₹122.5 crore for the first time since its listing, aided by higher other income. This compares to a net loss of ₹839 crore in the same quarter last year. Other income rose to ₹241 crore, up from ₹138 crore a year ago. Revenue for the quarter grew 27.7% year-on-year to ₹1,917.5 crore.
Also Read: Paytm’s turnaround: Mutual Funds to the rescue while others sell
At the EBITDA level too, the company turned profitable, reporting earnings before interest, tax, depreciation and amortisation of ₹71.5 crore, compared to an EBITDA loss of ₹793 crore in the year-ago period. The EBITDA margin stood at 3.7%.
Shares of One 97 Communications Ltd ended at ₹1,078.30, up by ₹2.50 or 0.23%, on the BSE today (August 4).
Also Read: Paytm shares get upgrades, targets revised higher after first profit without one-offs
(Edited by : Shoma Bhattacharjee)
