Morgan Stanley sees opportunity, buys shares worth ₹244 crore

Morgan Stanley on Friday bought shares worth ₹244 crore in Paytm's parent company One97 Communications, representing a 0.8 per cent stake Financial services giant Morgan Stanley on Friday made an investment in Paytm's parent company, One97 Communications, by acquiring shares worth ₹244 crore through an open market transaction.Morgan Stanley, via its affiliate Morgan Stanley Asia (Singapore) Pte - ODI, purchased 50 lakh shares on the National Stock Exchange (NSE), representing a 0.8 per cent stake in Paytm. The average price per share was ₹487.20, resulting in a total deal size of ₹243.60 crore.

However, details about the sellers remain undisclosed, PTI reported.This comes after the banking sector regulator has found potential violations, including the misuse of customer documentation rules and non-disclosure of material transactions.

Paytm shares price faced another 20 per cent decline on the NSE. This adds to a total of 36 per cent drop in the share price in just 2 days after the Reserve Bank of India (RBI) directed Paytm Payments Bank Ltd (PPBL), an associate of Paytm, to cease accepting deposits or top-ups in various accounts, wallets, and instruments from March 1.

Morgan Stanley, via its affiliate Morgan Stanley Asia (Singapore) Pte - ODI, purchased 50 lakh shares on the National Stock Exchange (NSE), representing a 0.8 per cent stake in Paytm. The average price per share was ₹487.20, resulting in a total deal size of ₹243.60 crore. However, details about the sellers remain undisclosed, PTI reported.In related news, there are reports that the RBI is contemplating revoking the license of Paytm Payments Bank as early as next month.