SoftBank offloads 2% stake in Paytm in a series of disposals since February

“SVF India Holdings (Cayman) Limited disposed of an aggregate of 13,103,148 equity shares of One 97 Communications Limited in a series of disposals undertaken between February 10, 2023 to May 8, 2023, with the disposal on May 8, 2023 breaching the 2% threshold specified in Regulation 29(2) of the SEBI Takeover Regulations,” the company said in the filing dated May 10, 2023.

At the time of writing, Paytm’s shares were trading 2.43 per cent down to Rs 709.95 on BSE.

After the stock sale, SoftBank will have around 11.17 per cent of its stake left in the fintech company, as per reports.

The update comes after the Japanese investment major in November last year had offloaded a 4.5 per cent stake in Paytm worth Rs 1,631 crore through a block deal.

Apart from SoftBank, Ant Group, Alibaba Group Holding are also among the biggest shareholders of Paytm.

The fintech company in the March quarter narrowed its losses to Rs 167.5 crore from Rs 762.5 crore in the same period of the last year.

One97 Communications narrowed its loss to Rs 1,776.5 crore in the financial year of 2023 from Rs 2,396.4 crore in the previous fiscal.