Paytm got relief from AmericaImage Credit source: tv9 bharatvarsh
Paytm is facing bad times after the ban by Reserve Bank of India (RBI). Despite this, he has got a big relief from America. An American multinational investor company has invested Rs 244 crore in Paytm’s parent company One97 Communications.
American multinational investor company Morgan Stanley has bought 0.8 percent stake in Paytm. The company has invested Rs 244 crore in One97 Communications through open market.
Bought so many shares of Paytm
Morgan Stanley Asia Singapore Private Limited, Morgan Stanley’s company doing business in Asia, has bought 50 lakh shares of Paytm’s parent company. For this, the company has fixed the price of each share of Paytm at Rs 487.2.
After the Reserve Bank of India banned Paytm Payments Bank, its shares have seen a sharp decline. The company’s shares have fallen by 20 percent in two days. These have reached the price of Rs 487.20.
Paytm may suffer a loss of Rs 300 to 500 crores
After RBI’s action, Paytm estimates that its income before tax (EBITDA) may decline by Rs 300 to 500 crore. In such a situation, with such a big American company showing confidence in it, its stock is expected to get stability.
However, last year, Warren Buffett’s Berkshire Hathaway sold its entire stake in Paytm at a loss after investing in the company for 5 years. Then the share price of Paytm was Rs 877.20. Warren Buffett suffered a loss of about Rs 700 crore in this deal.