One 97 Communications Ltd, the parent company of Paytm, witnessed a nearly 5% decline in its shares on November 24 following a substantial block deal in the stock. 

Shares of One 97 fell to an intraday low of Rs 877.15, 5% lower from the last closing price on the National Stock Exchange (NSE). At 12:30 pm, the stock was trading 2.98% lower at Rs 895.85 apiece. 

Reports indicate that a large block deal occurred in the shares of One 97 Communications, involving 1.6 crore shares with a total value of Rs 1,441 crore. This transaction accounted for 2.56% of the company’s total equity.

The specific details of the buyers and sellers involved in the block deal are currently undisclosed. 

Earlier, Paytm drew attention when the Reserve Bank of India tightened consumer lending norms, prompting banks and NBFCs to set aside higher capital buffers. While analysts noted potential impacts on fintech intermediaries like Paytm, the extent of the effect remains uncertain. Additionally, Paytm was recently included in the MSCI Global Standards Index.