Paytm Shares Hit 52-Week High, Up Over Three Per Cent

New Delhi: Paytm brand owner One97 Communication's shares on Monday jumped over 3 per cent on the bourses after the company approved the stake sale in Softbank group's fintech firm PayPay Corporation. The company shares rose over 3 per cent to hit its 52-week high of Rs 1,007 each on the BSE and NSE.

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Paytm shares surged over 3%, hitting a 52-week high of ₹1,007, as the company approved selling its stake in PayPay Corporation, valued at ₹2,000 crore.

As the company's shares touched a 52-week high, the market valuation of Paytm rose by Rs 1,986.32 crore to Rs 64,109.58 crore. The 30-share BSE Sensex declined 199.98 points or 0.24 per cent to trade 81,509.14 in the morning trade, while the NSE Nifty slipped 54.15 points or 0.22 per cent to 24,623.65. In a regulatory filing on Friday, fintech firm One97 Communications approved the stake sale in Softbank group's fintech firm PayPay Corporation.

Paytm to Sell Stock Acquisition Rights in PayPay Corporation, Stake Valued at Rs 2,000 Crore

Paytm holds a 7.2 per cent stake in PayPay Corporation. "We have been informed by One97 Communications Singapore Pvt Ltd, a wholly-owned subsidiary of the company, at 12.49 PM (IST) that its Board of Directors at its meeting held today, i.e. December 6, 2024, approved the sale of Stock Acquisition Rights (SARs) in PayPay Corporation, Japan," Paytm said in the filing. According to Paytm senior officials, the stake was valued at around Rs 2,000 crore, close to USD 236 million, in July 2024.

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