<p>New Delhi: Shares of One97 Communications, the owner of the Paytm brand, declined 5 per cent on Tuesday morning trade amid reports that financial Services company Ant Group is likely to offload up to 4 per cent stake worth about Rs 2,066 crore in the fintech firm.</p>.<p>The stock dropped 4.99 per cent to Rs 823.10 on the BSE.</p>.<p>At the NSE, it tanked 4 per cent to Rs 830.55.</p>.China's Ant Group to sell 4% stake in Paytm for $242 million: Report.<p>Ant Group is likely to offload up to 4 per cent stake worth about Rs 2,066 crore in One97 Communications, according to sources.</p>.<p>The sale will be executed through bulk deals on BSE and NSE on May 13, and involves the sale of up to 25.5 million shares of the Noida-based Paytm, they added.</p>.<p>Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group.</p>.<p>Investment banking firms Goldman Sachs (India) Securities Pvt Ltd and Citigroup Global Markets India Pvt Ltd are the placement agents for the stake sale, as per the sources.</p>.<p>At the end of the March quarter, Antfin (Netherlands) Holding BV owned a 9.85 per cent holding in digital payments firm Paytm, as per shareholding data pattern on the BSE. </p>
<p>New Delhi: Shares of One97 Communications, the owner of the Paytm brand, declined 5 per cent on Tuesday morning trade amid reports that financial Services company Ant Group is likely to offload up to 4 per cent stake worth about Rs 2,066 crore in the fintech firm.</p>.<p>The stock dropped 4.99 per cent to Rs 823.10 on the BSE.</p>.<p>At the NSE, it tanked 4 per cent to Rs 830.55.</p>.China's Ant Group to sell 4% stake in Paytm for $242 million: Report.<p>Ant Group is likely to offload up to 4 per cent stake worth about Rs 2,066 crore in One97 Communications, according to sources.</p>.<p>The sale will be executed through bulk deals on BSE and NSE on May 13, and involves the sale of up to 25.5 million shares of the Noida-based Paytm, they added.</p>.<p>Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group.</p>.<p>Investment banking firms Goldman Sachs (India) Securities Pvt Ltd and Citigroup Global Markets India Pvt Ltd are the placement agents for the stake sale, as per the sources.</p>.<p>At the end of the March quarter, Antfin (Netherlands) Holding BV owned a 9.85 per cent holding in digital payments firm Paytm, as per shareholding data pattern on the BSE. </p>