One 97 Communications slides after block deal

One 97 Communications fell 1.09% to Rs 1,565.75 after a large block deal in the stock was executed in early trade.

The identities of the buyers and sellers were not immediately disclosed. Trading volumes were elevated during the session. On the BSE, 2.73 lakh shares changed hands against a three-month average of 3.55 lakh shares. On the NSE, 24.42 lakh shares were traded against a three-month average of 33.36 lakh shares.

The transaction came after One 97 Communications on Monday said that Resilient Asset Management B.V., an entity associated with Paytm founder Vijay Shekhar Sharma, proposed to sell up to 4.98% of its stake in the company through a block market trade.

The proposed sale is under Resilient's existing Optionally Convertible Debenture (OCD) agreement with Antfin (Netherlands) Holding B.V. The economic value received by Resilient from the sale will be retained by Antfin under the agreement.

Resilient had acquired an approximately 10.20% stake in One 97 Communications from Antfin in 2023 against OCDs issued to Antfin. Although the shares were held by Resilient, the economic interest continued to belong to Antfin.

As of June 2026, Resilient held a 10.20% stake in One 97 Communications, while founder Vijay Shekhar Sharma held a 9.03% direct stake. The proposed sale of up to 4.98% would represent nearly half of Resilient's holding.

The company clarified that it is not a party to the transaction and that there will be no change in Sharma's direct shareholding.

The digital payments and financial services company reported a consolidated net profit of Rs 220 crore in Q1 FY27, up 78.86% YoY and 20.22% QoQ. Revenue from operations rose 27.63% YoY and 8.13% QoQ to Rs 2,448 crore in the quarter ended 30 June 2026. EBITDA surged 181.94% YoY and 53.79% QoQ to Rs 203 crore, while EBITDA margin expanded to 8% from 4% in Q1 FY26 and 6% in Q4 FY26.

One 97 Communications operates Paytm, a digital payments and financial services platform offering merchant payments, financial services distribution, lending, insurance and wealth management products.

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