Thursday, December 1, 2022
HomeDigit NewsPaytm Share: Huge upheaval possible in Paytm's stock, SoftBank may sell shares...

Paytm Share: Huge upheaval possible in Paytm’s stock, SoftBank may sell shares worth $200 million

Paytm Share Price: There can be a big upsurge in Paytm Share Price in Thursday’s trading session. According to media reports, Japanese giant SoftBank Group, invested in Paytm, may sell $ 200 million worth of shares of Paytm’s parent company One97 Communications through a block deal.

It is believed that this block deal is possible at a price of Rs 555 to 601 per share. The lower band price fixed for the block deal is 7.79 per cent lower than Wednesday’s closing price of Rs 601.45. SoftBank holds 17.45 per cent stake in Paytm. After this block deal, SoftBank’s stake will come down to 12.9 per cent. SoftBank had invested $1.6 billion in Paytm.

The lock-in period for investors who invested in Paytm before the pre-IPO period is ending on November 18, 2022. It is believed that under this development, SoftBank is going to sell its stake. Paytm’s stock is currently trading 72% below its IPO price of Rs 2150. In November last year, Paytm had brought its IPO and on November 18, 2021, the company’s shares were listed on the stock exchange. Since then the stock has disappointed investors.

In fact, the lock-in period is going to end for anchor investors investing in many companies listed in the market in November. Anchor investors can exit from investing in these shares, due to which there is a possibility of a fall in the shares of these companies. Recently the lock-in period of Nykaa and PolicyBazaar has ended. Now pressure is being seen on the shares of these companies.

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