Paytm shares fall 9% intraday following reports of Alibaba’s stake sale through bulk deals

Paytm shares fell about 9% intraday on the BSE on Thursday (January 12), to INR 528.35, after reportedly 3.1% of the startup’s equity shares changed hands in a series of block deals.

The drop came after Paytm shares gained in nine consecutive sessions since last week, demonstrating strong upward momentum. On the BSE, its shares closed 6.4% lower at INR 542.25 today. According to a CNBC Awaaz report, Alibaba-owned Ant Financial is likely to have sold 2 billion Paytm shares in bulk. According to the report, the shares were exchanged at an average price of INR 540 per share, for a total transaction value of INR 1,126 Cr.