Softbank may sell $1.5 billion stake in Paytm

MUMBAI : Japan’s SoftBank is evaluating selling shares worth around $1.5 billion by starting its first tranche of dilution in the proposed initial share sale of One97 Communications Ltd, which runs the Paytm digital payments service, two people with direct knowledge of the matter said.

Paytm is planning an IPO worth around $3 billion, offering SoftBank its largest exit in India after Flipkart.

“A window to sell at least one-third of the overall stake on offer in the IPO may be available on a pro-rata basis for the existing investors, including SoftBank. A total of 3-5% stake may be monetized by SoftBank and, even after the IPO, SoftBank will have holdings of at least 15% in One97 Communications.