SoftBank looking to book profits by selling shares in Zomato, Paytm: Report

Japan-based SoftBank is looking to sell small stakes in Zomato and Paytm’s parent One97 Communications as the bets have finally turned profitable for the investment conglomerate amid the rally in new-age stocks, Moneycontrol reported on Friday.

The shares will be sold in small tranches in the open market and not through block deals.

SoftBank had paid Rs 830-840 per share for Paytm and Rs 65-70 for Zomato while acquiring the stake. On Thursday, Paytm closed at Rs 900 and Zomato at Rs 74.95 on the Indian bourses. Since January 1, Paytm’s share price has surged nearly 70 per cent and Zomato 24 per cent.