China’s Alibaba Group (9988.HK) offered a 3.1% stake in Indian digital funds agency Paytm (PAYT.NS) for a complete of $125 million via a block deal on Thursday, a supply with direct data of the matter instructed Reuters.
Shares of the corporate fell as a lot as 8.8% to 528 rupees in afternoon buying and selling, and was final down 5.8% as of three:00 p.m. IST.
Alibaba, which held a 6.26% stake in Paytm as of end-September, offered the stake at 536.95 rupees apiece, the supply, who didn’t need to be named as a result of he isn’t authorised to talk to media, mentioned.
