SAIF Partners sells 1.86 pc stake in Paytm for Rs 1,556 cr

New Delhi, Nov 18 (PTI) Private equity firm SAIF Partners on Tuesday divested a 1.86 per cent stake in One97 Communications, the parent company of Paytm, for Rs 1,556 crore through open market transactions.

After the stake sale, Hong Kong-based SAIF Partners' holding in Paytm has declined to 13.47 per cent from 15.33 per cent.

SAIF Partners, through its two affiliates, SAIF III Mauritius Company Ltd and SAIF Partners India IV Ltd, offloaded a little over 1.19 crore equity shares representing a 1.86 per cent stake in Paytm, as per bulk deal data available on the NSE.

The transaction was valued at around Rs 1,556.02 crore and was executed at an average price of Rs 1,305 apiece.

Meanwhile, Paris-based Societe Generale bought 32.44 lakh shares or 0.51 per cent stake in One97 Communications at the same price, taking the deal value to Rs 423.46 crore.

Details of the other buyers of One97 Communications' shares could not be ascertained on the exchange.

Shares of One97 Communications fell 3 per cent to close at Rs 1,292.90 apiece on the NSE.

In a separate bulk deal, Motilal Oswal Mutual Fund (MF) sold a little over 8.17 lakh equity shares or 1.22 per cent stake in Kaynes Technology India for Rs 490 crore.

As per the data, Motilal Oswal MF offloaded 4.64 lakh shares of Kaynes Technology on the BSE, and it disposed of 3.52 lakh shares on the NSE.

The shares were pared in the price range of Rs 5,960.05-6,011.82 apiece on the BSE and the NSE, taking the combined value to Rs 489.71 crore.

After the stake sale, Motilal Oswal Mutual Fund's equity holding in Kaynes Technology India has reduced to 4.62 per cent from 5.84 per cent.

Details of the buyers of Kaynes Technology India's shares could not be identified on the exchanges.

Shares of Kaynes Technology India declined 5.56 per cent to close at Rs 5,890 apiece on the NSE, while the scrip of the company fell 5.53 per cent to settle at Rs 5897.80 per piece on the BSE. PTI HG HG BAL BAL