Japan’s SoftBank takes 10% hit on fintech major Paytm as rout continues

Japan’s SoftBank Group Corp has made a 10 per cent or $100 million loss on its $1.4 billion investment in One 97 Communications (Paytm) so far. This comes even as the Indian company struggles to calm its shares after the action taken against its payment bank by the Reserve Bank of India (RBI).

SoftBank currently owns around 5 per cent worth Rs 1,333 crore in One 97 Communications.

The Japanese firm had invested in One97 Communications at the rate of Rs 820 a share in May 2017 (after all adjustments in the company’s shares).