Softbank sells another 2% stake in Paytm, total holding now below 10%

Softbank has sold another 2 per cent of its stake in One97 Communications, the parent company of Paytm, for around $180-$200 million, it said in a regulatory filing. This has taken the total holding of the Japanese investment major in the Indian fintech company below 10 per cent to 9.15 per cent for the first time.

“SVF India Holdings (Cayman) Limited has disposed of an aggregate of 12,771,434 equity shares of One97 Communications Limited in a series of disposals undertaken between May 9, 2023, and July 13, 2023, with the disposal on July 13, 2023, breaching the 2 per cent threshold specified in Regulation 29(2} of the SEBI Takeover Regulations,” the regulatory filing said.