China's Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm worth $125 million through a block deal on Thursday (12th Jan 2023), a source with direct knowledge of the matter told Reuters.
Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece.
Paytm's stock fell as much as 8.8% to 528 rupees in afternoon trading, and was last down 5.8% as of 2:37 p.m. IST.
Morgan Stanley advised Alibaba on the deal..
Source : Money Control