SoftBank reduces stake in Paytm to 5% by selling shares in open market transactions. SVF India Holdings disposed of 12,706,807 equity shares of One97 Communications Ltd between Dec 19, 2023 and Jan 20, 2024. SoftBank s stake in Paytm was previously 7.01% and is now reduced to 5.06%. SoftBank plans to completely exit the company. Paytm shares were down 1% following the announcement. Bank of America and Goldman Sachs raise target prices on Paytm stock after strong Q3 performance.
SVF India Holdings, a SoftBank entity, has sold an additional 2% stake in Paytm through open market transactions, reducing its stake in the company to 5.01%.
In another setback for Paytm’s parent One97 Communications, SoftBank has sold another 2 per cent stake in the company. The 2 per cent stake sale yielded close to Rs 950 crore.