Paytm made an average block deal of Rs 391 crore, which was 3.6% more premium than the previous deal
Paytm’s parent company one97 communication imposed an upper circuit of 5% when the market opened on May 31, when a block deal of 1.2% shares of the company was done. In the block deal, a deal of 75.20 lakh shares was done.
This block deal was done at an average rate of Rs 391, the total value of which was Rs 296.30 crore. The previous closing price before the transaction was Rs 377.40 per share,
After the market opened in the morning at 09:39, Paytm’s share was trading at Rs 391.60, on the NSE, Paytm’s share went up a bit due to which Paytm started trading at 396.60 day high.
Volume also skyrocketed after the block deal as 10 million shares exchanged hands on exchanges, a sharp jump from the one-month average of 36 lakh shares.