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The parent company of Paytm, One97 Communications, saw its stock end the day almost 1% higher on Friday.
The stock had dropped more than 2% in morning session after SoftBank sold its 4.5 percent share in the company for Rs. 1,631 crore in an open market transaction.
On the BSE, the stock decreased 2.23 percent during the day to Rs. 527.50. However, it made up for all of the lost ground and finished at Rs. 546.30 per piece, up 1.25 percent.
It decreased 2.38 percent during the day to Rs. 526.90 on the NSE. The stock gained 1.22 percent to close at Rs. 546.40 per share.
On Thursday, the stock of One97 Communications, the company that owns Paytm, fell by almost 11%.
The lock-in period for the pre-offer investors who had invested in Paytm, which was listed on the bourses in November of last year, ended earlier this month.
A total of 2,93,50,000 shares, or 4.5 percent of the firm, were sold by SVF India Holdings (Cayman), according to bulk deal data made available by the National Stock Exchange (NSE) on Thursday.
A SoftBank subsidiary is SVF India.
The shares were sold at an average price of 555.67 rupees each, making the total transaction amount 1,630.89 crore rupees.
SoftBank holds a 17.45 percent stake in the business, making it the second-largest shareholder.
After the most recent deal, SoftBank's ownership in the company would drop from 17.45 percent to 12.95 percent.
According to the term sheet, Bank of America is leading the sale of 29 million shares by SoftBank.
The transaction is the most recent in a series of asset sales made by SoftBank in recent months after its flagship Vision Fund subsidiary suffered losses of about $50 billion (or roughly Rs. 4,08,150 crore) in only six months.
