Paytm shares tank over 10% as SoftBank sells 4.5% stake

Shares of Paytm’s parent firm One 97 Communications Ltd fell over 10 per cent on Thursday after SoftBank Group Corp of Japan sold 4.5 per cent stake in the company through a block deal.

The stock of the digital payments company closed 10.31 per cent down at Rs 539.55 per share on the BSE. On the NSE, it fell 10.78 per cent to end at Rs 536.6 per share.

The stock opened weak at Rs 563.25 on the BSE compared to previous close of Rs 601.55 apiece. It touched a day’s low of Rs 535.2 and a high of Rs 565.5 on the BSE.