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Softbank Sells 4.5% in Paytm for Rs 1,631 Crore

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Japan’s SoftBank Group on Thursday sold 29 million shares in Paytm parent One97 Communications in a block deal, raising about Rs 1,631 crore. Shares were sold at Rs 555.67 each. Shares of Paytm fell 10% to close at Rs 539.55 on Thursday.


Societe Generale, Morgan Stanley and BofA Securities bought Paytm shares worth Rs 393 crore, Rs 333 crore and Rs 279 crore, respectively.


SoftBank held a 17.45% stake in the fintech firm through SVF India Holdings (Cayman) as of September 30. Its stake has fallen to 12.9% following Thursday’s blockbuster trading. The lock-up period for Paytm’s pre-IPO investors ended on November 15.


Earlier this month, the investor lock-in period for the pre-sale of Paytm, which was listed on the exchange last November, ended.


SVF India Holdings (Cayman) Ltd sold 29,350,000 shares, representing a 4.5% stake in the company, according to block trade data provided by the NSE.


SVF India Holdings (Cayman) Ltd is a subsidiary of SoftBank. The shares were sold at an average price of Rs 555.67 each, bringing the deal to Rs 1,630.89 crore.


SoftBank invested $1.6 billion in Paytm in the last quarter of 2017 and sold $220 million in shares in the IPO. The company’s shares plunged 11% to close at Rs 536.60 on the NSE.

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