Paytm share gains over 3% intra-day; SoftBank cuts 2.17% stake in One 97 Communications

Japanese investment giant SoftBank Group Corporation has reportedly reduced its stake in the troubled Indian fintech unicorn Paytm by 2.17 percent, according to Reuters. The stake sale was disclosed in an exchange filing on February 29, revealing SoftBank’s ongoing reduction in ownership of the Indian payments startup.

Having held a 17.5 percent stake in Paytm in September 2022, SoftBank’s current ownership stands at 2.83 percent, down from 5.01 percent. This gradual reduction in stake has been occurring for over a year, with the most recent cut reported in January 2024.