Mumbai: Leaving the road, global financial major Morgan Stanleyfailed to take rest from Paytm of management Insurance To investors After which the company will be separated from Paytm Payments Bank. reserve Bank of Indiahardening step restrictions On its operation.
For the second consecutive day, the share price of One97 Communications, which operates Paytm, declined 20% and touched the lower circuit limit of Rs 487 on Friday. Amid the selling, a Singapore-based fund managed by Morgan Stanley bought Rs 50 lakh. NSE disclosures showed that Paytm shares were priced at an average price of Rs 487 per share. The fund paid about Rs 244 crore for the stake.

At Friday’s close, Paytm’s stock was down 77% from its IPO price of Rs 2,150. Even after the demise of Paytm founder and CEO Vijay on Friday, the stock fell. Shekhar Sharma Assured everyone that the company’s app will continue to work even after February 29.
On Wednesday, the RBI barred Paytm Payments Bank from adding funds to any customer account, rendering most of its services obsolete from March 1. Paytm’s management said that after the RBI action, the platform will partner with other banks.
At the same time, Paytm’s rivals have started making a dent in the platform’s market share. “We are seeing an increase in requests from merchants for QR and smart speakers and we are ensuring that we meet that demand,” a PhonePe spokesperson said in response to queries.
Sources said players like PhonePe and MobiKwik are increasing the presence of their on-ground sales representatives to onboard more merchants.