BENGALURU: SoftBank arm SVF India Holdings has sold another 2% stake in Paytm. The Japanese investment firm has been offloading shares regularly.
It has sold 12,771,434 equity shares in the fintech major’s parent firm One97 Communications via open market operations between May 9 and July 13, 2023, One97 Communications said in a regulatory filing on Tuesday. With this, SoftBank’s stake in Paytm has reduced to 9.15%. Last November, it sold 4.5% stake in the firm, followed by another 2.07% stake this year.
SoftBank has backed over 20 unicorns in India, but of late, the firm has cut investments across countries. Before the transaction, SoftBank held 17.45% in Paytm. Among other investors, Chinese billionaire Jack Maa’s Alibaba group holds over 31%, while founder Vijay Shekhar Sharma holds 8.91%.