SoftBank Offloads Another 2% Stake In Paytm Parent For $114 Mn

SoftBank Offloads Another 2% Stake In Paytm Parent For $114 Mn

SUMMARY

SoftBank said it offloaded its stake in the fintech startup over the past month via multiple open market transactions

SoftBank has been steadily reducing its stake in Paytm over the past one year in a bid to book profits as the stock continues to surge

In Q3 FY24, Paytm slashed its net loss by 43% to INR 222 Cr from INR 392 Cr during the corresponding period last fiscal

Japanese tech conglomerate SoftBank has sold another 2% stake in fintech giant Paytm’s parent entity One97 Communications for INR 950 Cr ($114 Mn).

In a regulatory disclosure filed with the BSE, SoftBank said it offloaded its stake in the fintech startup over the past month via multiple open market transactions. 

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