Paytm share fall 3% as Rs 241 crore-worth of equity changes hands

Shares of Paytm parent One 97 Communications Ltd fell nearly 3 percent on March 5 morning after around 58.2 lakh shares, or 0.92 percent equity, changed hands.

At 10.55 am, the stock  was trading at Rs 406.27 on the NSE. Over the last month, Paytm has fallen over 7 percent, paring huge losses that followed the RBI’s decision severely curtailing the activities of its banking arm.

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According to a CNBC TV-18 report, 0.92 percent of equity worth Rs 241 crore changed hands at an average of Rs 414 a share. Moneycontrol could not independently verify the buyer and seller at this time.

On January 31, the RBI imposed major business restrictions on the Paytm Payments Bank citing prolonged history of non-compliance by the Paytm promoters. On February 26, founder Vijay Shekhar Sharma resigned from the bank’s board to “enable the reconstitution of the board”.

As reported by Moneycontrol, the regulatory trouble, which has put a question mark on the existence of  the payments bank, shrunk Paytm’s UPI market share to 11 percent in February.

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