top of page
-

SoftBank reduces its ownership in Paytm by 2.2% amidst difficult circumstances.




According to reports, SoftBank Group, led by Masayoshi Son, has decreased its holdings in the troubled fintech giant Paytm by 2.2%. This sale, which took place in January, involved over 1.3 crore shares of One 97 Communications, Paytm’s parent company, being sold in the open market, as per sources cited by The Economic Times.

Following this transaction, SoftBank, through its affiliate SVF India Holdings (Cayman), now possesses a reduced stake of 2.83% in Paytm, down from the previous 5.01%. It's noteworthy that SoftBank initially held an 18.5% stake in Paytm before the company's public offering in 2021.

SoftBank's move comes ahead of the Reserve Bank of India's (RBI) recent implementation of stringent directives against Paytm, further complicating the company's already challenging situation. Paytm's shares have been consistently declining since its stock market debut in 2021, and the RBI's directives have contributed to a decrease in the company's share price, closing at Rs 405 per share on the BSE, representing a 0.23% decline.

Significantly, Paytm has seen significant changes in its investor base, with Warren Buffet's Berkshire Hathaway and China's Alibaba Group both completely divesting from the company in 2023. Even Ant Financial, Alibaba's subsidiary, has chosen to reduce its stake in One 97 Communications.



0 views0 comments

コメント


bottom of page