SoftBank Group sells another 2% stake in crisis-hit Paytm to under 3%

Just a month after it sold a 2 per cent stake in Paytm, SoftBank Group on Thursday, announced that it has another 2.17 per cent in the beleaguered payments firm. Its stake in Paytm has now fallen to 2.83 per cent from 5.01 per cent earlier.

The Japanese conglomerate held a 17.5 per cent stake in Paytm in September 2022. Since then, it has trimmed its ownership through multiple open market deals, with its most recent cut being in January.

In December and January, the Japanese firm sold a 2 per cent stake in the company, bringing it down to just 5 per cent.