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Paytm to add Rs 2,364 crore to its kitty through sale of PayPay shares
Economic Times
·
8m ago
Medial
One97 Communications, the parent company of digital payment platform Paytm, has announced the sale of its 5.4% stake in Japanese payment company PayPay to SoftBank for Rs 2,364 crore ($280 million). The deal values PayPay at approximately $7 billion. This comes after Paytm recently sold its entertainment and ticketing business to Zomato for Rs 2,048 crore. Paytm currently has significant cash reserves and the proceeds from these divestments will further strengthen its consolidated cash reserves and support future business initiatives. In the September quarter, Paytm reported a net loss of Rs 1,648 crore and operational revenue of Rs 1,659 crore.
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Paytm sells ₹2,364 crore stake in Japan's PayPay to SoftBank
Inshorts
·
7m ago
Medial
Paytm's subsidiary One97 Communications Singapore Pvt Ltd has completed the sale of a 5.4% stake in Japan's digital payment company PayPay. The Paytm unit sold the stake to SoftBank Vision Fund 2 for ₹2,364 crore. The sale is part of Paytm's efforts to offload non-core assets and focus on the core payments solutions business.
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One97 Communications Singapore approves sale of stake in PayPay
Economic Times
·
8m ago
Medial
Paytm's parent company, One97 Communications, has announced the approval for the sale of its shareholding in PayPay Corporation, a Japan-based payments firm. The transaction is still subject to clearances and corporate approvals. The move is expected to increase One97 Communications' cash balances. Paytm is reportedly selling its stake in PayPay to SoftBank for around $250 million. This comes as Paytm continues to face regulatory scrutiny in its payments bank business and follows the sale of its ticketing business, Paytm Insider, to Zomato earlier this year. Paytm's shares closed 2% higher at Rs 975.80 on the BSE.
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SoftBank fully exits Paytm at higher-than-expected net loss of $264.8 Million
YourStory
·
8m ago
Medial
SoftBank Group has finalized its exit from Indian fintech company Paytm by selling its Singapore subsidiary's stake in PayPay Corporation to a SoftBank Vision Fund 2 entity for $279.2 million. This transaction severs all investment ties between SoftBank Group and Paytm. SoftBank had already sold its direct stake in Paytm earlier in 2024, incurring a loss of $544 million. The sale of PayPay stake in Paytm was projected to fetch proceeds of $390-450 million, but the lower sale price results in a final net loss of $264.8 million for SoftBank.
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Paytm to sell stake in Japan's PayPay to SoftBank for $250M
YourStory
·
8m ago
Medial
Paytm, an Indian digital payments company, is set to sell its stake in PayPay, a Japanese payments company, to SoftBank for approximately $250 million. Paytm had earlier invested in PayPay in 2018 when it began as a joint venture between SoftBank and Yahoo Japan, with Paytm as a technology partner. The sale is expected to increase Paytm's cash balance as it focuses on its core business in India. This is the second major monetization by Paytm's parent company, One 97 Communications, this year following the sale of its entertainment ticketing business to Zomato.
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Ixigo IPO may be another multibagger for Elevation Capital
The Arc Web
·
1y ago
Medial
Online travel aggregator Ixigo is set to launch its IPO with a target of raising Rs 740 crore ($89 million) primarily through a sale of shares by existing investors. The listing is expected to value Ixigo at Rs 3,600 crore ($430 million), a 20% increase from its previous valuation. The company aims to raise Rs 120 crore ($14 million) through a fresh issue of shares, while the remaining Rs 620 crore ($74 million) will come from the sale of shares by current backers. Elevation Capital, Peak XV Partners, and Micromax are among the existing investors selling their shares.
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Mamaearth founders selling shares in IPO is part of a new-age company trend
Economic Times
·
1y ago
Medial
The founders of beauty and personal care brand Mamaearth, Varun Alagh and Ghazal Alagh, are selling 32.86 lakh shares in the IPO of Honasa Consumer Ltd., the parent company. The founders are expected to raise between Rs 101.22 crore and Rs 106.47 crore through this sale. This trend of founders selling shares in IPOs is common among new-age companies, as seen in previous IPOs like Paytm and Nykaa. Founders claim it helps generate liquidity and build confidence among other selling shareholders.
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Antfin completes 3.6% stake sale in Paytm
IndianStartupNews
·
1y ago
Medial
Antfin (Netherlands) Holdings, founded by Jack Ma, has sold a 3.6% stake in Paytm for Rs 2,097 crore ($280 million). The investment firm offloaded 2.27 crore shares at Rs 895.20 per share. This follows Paytm CEO Vijay Shekhar Sharma's acquisition of a 10.30% stake through his overseas entity, raising his holding to 19.42%. Paytm recently reported a 39% YoY growth in revenue to Rs 2,342 crore and a 167% YoY growth in loans disbursed to Rs 14,875 crore.
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MobiKwik board approves Rs 880 Crore fresh equity shares issuance for public listing
OutlookIndia
·
1y ago
Medial
Gurugram-based fintech company MobiKwik's board has approved a special resolution for issuing Rs 880 crore worth of fresh equity shares through public listing, as per the regulatory filing. This marks the company's second attempt to go public, with a planned share sale in 2024. MobiKwik's revenue remained steady at Rs 539.46 crore in FY2023, with a decrease in losses. It faces competition from payment apps like Google Pay, PhonePe, and Paytm in India's growing digital payments market.
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Antfin likely to offload entire Rs 5,368 cr stake in Eternal via block deal: Report - The Economic Times
Economic Times
·
2d ago
Medial
Antfin Singapore, affiliated with Ant Group, intends to sell its entire 1.95% stake in Eternal, equivalent to 18.84 crore shares, through a block deal. The shares are priced at Rs 285 each, totaling approximately Rs 5,368 crore. This move follows Antfin's recent divestment from Paytm. This significant business shift highlights Antfin's strategic reallocation of resources within the Indian market. More details are forthcoming.
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SoftBank Again Offloads Stake In Paytm, Sells 1.37 Cr Shares
Inc42
·
1y ago
Medial
Japanese tech conglomerate SoftBank has sold over 2% stake in fintech giant Paytm through open market transactions. Between January 23 and February 26, SoftBank sold 1.37 crore shares, reducing its stake in Paytm from 5.01% to 2.83%. This is the second stake reduction by SoftBank in Paytm this year, following a 2% stake sale in January. SoftBank has been steadily reducing its stake in Paytm as well as other listed companies in its portfolio. The fair value of SoftBank's India investment portfolio stood at nearly $14 billion as of December 2023.
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