However, Alibaba Group’s Ant Financial has not sold its stake in Paytm. They still hold 25% of the company. Alibaba had a 6.26% stake in Paytm in September 2022. Shares fell further early in the day on Friday. Shares were down about 1.7% at the start of the day. It traded at Rs 533 on Friday. At 12:30 the share price was Rs 553.10. Shares fell 9% after the block deal on Thursday.
But this was not the case before. Because the company’s share price traded in the green zone in 12 out of 14 sessions since December 26. Gained about 15% over that period. Alibaba had earlier sold stakes in BigBasket and Zomato. Softbank Group sold around 29 million shares of Paytm in November. The company then sold about $200 million worth of shares through a block deal.
Incidentally, on January 9, Paytm had informed that the payments company had disbursed around 3.7 million loans in the month of December. His net worth is Rs 3,665 crore. And total loans disbursed by Paytm in the quarter ended December stood at Rs 9,958 crore. Which was an increase of about 357 Percent. While Paytm had 6.5 crore customers a year ago, it has increased to 8.5 crore in December 2022. That is about 32% increase in the number of subscribers.
According to the data, the digital payments company added nearly 1 million new merchants as customers in the October-December half. As a result, in December 2022, the number of merchant customers of Paytm stands at around 60 lakh.