Goldman Sachs sells 44.20 lakh shares worth ₹183 crore in Paytm: What we know - Hindustan Times
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Goldman Sachs sells 44.20 lakh shares worth 183 crore in Paytm: What we know

Jun 19, 2024 07:37 AM IST

Goldman Sachs Singapore held 84,01,067 shares or 1.32% stake in the fintech payment platform before the block deal.

Goldman Sachs Singapore Pte sold 44.20 lakh shares of One 97 Communications via block deal at a price of 183.44 crore. The private equity firm sold Paytm shares at 415.04 apiece. Goldman Sachs Singapore held 84,01,067 shares or 1.32% stake in the fintech payment platform before the block deal. This comes after Paytm shares settled in the red on June 18 breaking their two-sessions winning streak.

A QR code for the Paytm digital payment system at a store in Mumbai, India.(Bloomberg)
A QR code for the Paytm digital payment system at a store in Mumbai, India.(Bloomberg)

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Paytm shares gained after it was reported that the company is looking to divest its movie ticketing business to Zomato. Zomato said, "We are in discussions with Paytm for the aforementioned transaction, but no binding decision has been taken at this stage that would warrant a board approval and subsequent disclosure in accordance with applicable law. This discussion is intended to further strengthen our 'Going-out' business and aligns with our focus on our four key businesses currently."

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Paytm said that all the discussions with Zomato are preliminary and non-binding at this stage.

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In case of the deal, it will be Zomato's largest buyouts after it acquired Uber Eats in 2020 and took over quick commerce platform Blinkit in 2021.

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