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Resilient Asset Management sells 1.92 crore Paytm shares in block trade

The sale reduced Resilient Asset Management B.V.'s stake to 7.2%, while Vijay Shekhar Sharma’s holding stayed at 9.0%.

Reported · Written up by our desk · M&A & Deals

Paytm parent One 97 Communications shares rose more than 2% in intraday trading on Thursday, 20 August, extending gains into a second session after Resilient Asset Management B.V. offloaded shares via block transactions earlier in the week, according to LiveMint Markets.

Resilient, wholly owned by Paytm founder and CEO Vijay Shekhar Sharma, sold 1,92,10,110 shares on 18 August, according to an exchange filing dated 19 August and submitted on 20 August. The block sale represented about a 3% stake in Paytm.

After the transaction, Resilient held 4,61,24,991 shares, or a 7.20% stake in Paytm. The filing also showed Sharma continued to hold 5,78,45,053 shares, or 9.02%, and his wife Mridula Sharma held 7,00,000 shares, or 0.11%.

LiveMint Markets noted Resilient had previously planned to sell up to ₹4,895 crore, or about $513 million, in secondary-market block transactions. The stock had touched a 52-week high of ₹1,656 on 14 August and a 52-week low of ₹947.10 on 30 March, with the shares up 25% year to date versus a 9% decline in the Sensex.

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