Paytm shares end over 1 pc lower

     New Delhi, May 13 (PTI) Shares of One97 Communications, the owner of the Paytm brand, ended over 1 per cent lower on Tuesday amid reports that financial services company Ant Group is likely to offload up to 4 per cent stake worth about Rs 2,066 crore in the fintech firm.
     The stock ended at Rs 856.55 apiece, down 1.13 per cent on the BSE. During the day, it dropped 4.99 per cent to Rs 823.10.
     On the NSE, shares of the firm dipped 1.16 per cent to settle at Rs 856 apiece. During the day, the stock tanked 4 per cent to Rs 830.55.
     In volume terms, 307.41 lakh shares of the firm were traded on the BSE and 244.57 lakh shares exchanged hands on the NSE during the day.
     Ant Group is likely to offload up to 4 per cent stake worth about Rs 2,066 crore in One97 Communications, according to sources.
     The sale will be executed through bulk deals on BSE and NSE on May 13, and involves the sale of up to 25.5 million shares of Noida-based Paytm, they added.
     Ant Group, formerly known as Ant Financial, is an affiliate company of Chinese conglomerate Alibaba Group.
     Investment banking firms Goldman Sachs (India) Securities Pvt Ltd and Citigroup Global Markets India Pvt Ltd are the placement agents for the stake sale, as per the sources.
     At the end of the March quarter, Antfin (Netherlands) Holding BV owned a 9.85 per cent holding in digital payments firm Paytm, as per shareholding data pattern on the BSE.

(This story has not been edited by THE WEEK and is auto-generated from PTI)