Following many huge trading orders involving 1.7 crore shares, stock worth Rs 2,380 crore changed hands, causing shares of One97 Communications Ltd., the parent company of Paytm, to slightly drop on Tuesday.

Although the trade’s buyers and sellers remained unknown, rumors indicated that Antfin, a subsidiary of Alibaba Group, was most likely to be the seller.

Reports state that Antfin, One 97 Communications’ second-largest stakeholder with a 9.85% stake, attempted to sell off 4% of the financial services giant.

The financial behemoth had fixed the floor price at Rs 809.75 per share, which was 6% less than the closing price.

The merchants for this transaction are the global financial institutions Citigroup and Goldman Sachs, who report NDTV profit.

Paytm’s stock dropped as much as 4.10 percent to Rs 830.55 per share, the lowest since May 9. Later, it reduced losses to trade at Rs 849 per share, down 2%.

The stock has decreased 16.73 percent so far this year and up 145.24 percent over the last 12 months.

Compared to Rs 2,267.1 crore in the same quarter of the previous fiscal year (Q4 FY24), One97 Communications Limited reported a 15.7% decline in revenue to Rs 1,911.5 crore for the January-March 2025 period (Q4 FY25) last week.

According to the company’s stock market filing, other income increased by about Rs 100 crore to Rs 223.8 crore, but revenue performance remained dismal. The business recorded a net loss of Rs 544.6 crore for the quarter; however, it was insufficient to counteract larger challenges.

Vijay Shekhar Sharma, the CEO of Paytm, made a significant decision last month by giving up 21 million ESOPs, which resulted in a one-time non-cash expenditure of Rs 492 crore.

According to Paytm, the payments sector is anticipating legal clarification about the acceptance of merchant discount rates (MDR) for major UPI transactions in the near future, which might boost profit margins.

Including other operational income, Paytm’s Payment Services business brought in Rs 1,098 crore in revenue during the fourth quarter of FY25. The Financial Services division continued to be a major engine of development, with a 9% increase in sales from quarter to quarter (QoQ) to Rs 545 crore.