SoftBank sells 4.5% in Paytm for Rs 1,631 crore

One 97 Communications: BOFA Securities Europe, Morgan Stanley, Societe Generale pick 2.79% stake in Paytm. BOFA Securities Europe SA has acquired 50.26 lakh shares in the Paytm operator, Morgan Stanley Asia Singapore PTE bought 60.03 lakh shares, and Societe Generale - ODI purchased 70.85 lakh shares at an average price of Rs 555 per share. They in total bought Rs 1,005 crore Paytm shares via open market transactions. However, SVF India Holdings (Cayman) offloaded 2.93 crore shares in Paytm at an average price of Rs 555.67 per share, which are worth Rs 1,630.89 crore. SVF as of September 2022 held 11.32 crore shares or 17.45% stake in Paytm.

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SoftBank divested 4.5 percent stake in Paytm's parent One97 Communications for Rs 1,631 crore through an open market transaction.

Earlier this month, the lock-in period ended for the pre-offer investors that had invested in Paytm, which was listed on the bourses in November last year.

According to bulk deal data available with the National Stock Exchange (NSE), SVF India Holdings (Cayman) Ltd sold a total of 2,93,50,000 shares, amounting to 4.5 per cent stake in the company.

SVF India Holdings (Cayman) Ltd is a subsidiary of Softbank.

The shares were offloaded at an average price of Rs 555.67 per piece, taking the transaction value to Rs 1,630.89 crore.

SoftBank is the second largest shareholder with a 17.45 per cent stake in the company.

Post the latest transaction, SoftBank's shareholding will decrease to 12.95 per cent from 17.45 per cent stake in the company.

SoftBank had invested USD 1.6 billion in Paytm in the last quarter of 2017 and offloaded shares worth USD 220 million at the time of its IPO.

On Thursday, BofA Securities Europe SA, Morgan Stanley Asia Singapore Pte and Societe Generale - ODI purchased a total of 1.81 crore shares of Paytm.