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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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SoftBank’s stake sale continues, offloads 1.14 Cr PB Fintech shares worth INR 914 Cr
Inc42
·
1y ago
Medial
SoftBank has sold 2.53% of its stake in PB Fintech through multiple block deals, totaling to INR 913.7 Cr. Following the sale, SoftBank is now expected to hold 83.23 Lakh shares in the company. The shares were purchased by Societe Generale, HDFC Mutual Fund, Goldman Sachs, ICICI Prudential Life Insurance, and others. This stake sale comes after SoftBank's recent offloading of shares in Zomato. PB Fintech has been witnessing improvements in its financials, with a significant decline in net loss and consecutive positive quarters of adjusted EBITDA.
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SoftBank offloads 1.06% stake in Zomato for INR 1,127 Cr
Inc42
·
1y ago
Medial
Japanese tech investor SoftBank has sold 9.35 crore shares of foodtech giant Zomato in a block deal worth INR 1,127 crore. The shares were sold by SVF Growth (Singapore) at INR 120.5 per share, with buyers including Invesco, ICICI Prudential Insurance, Goldman Sachs, and Morgan Stanley. This latest stake sale suggests that SoftBank has likely completely exited Zomato, following a previous stake sale in October. The move aligns with the trend of international investors divesting from Indian tech companies. Zomato recently reported its second consecutive profitable quarter.
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HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry
Inc42
·
1y ago
Medial
Japanese tech investor SoftBank has reportedly sold a portion of its stake in FirstCry, an IPO-bound ecommerce unicorn, for $310 million. The shares were acquired by several high-net-worth individuals (HNIs), valuing FirstCry at a range of $3.5 billion to $3.75 billion. SoftBank still holds shares worth $800 million to $900 million, which it plans to sell at a later date. SoftBank aims to bring its stake in the company below 26% to avoid being classified as a promoter. FirstCry is preparing to file its draft red herring prospectus (DRHP) by December 29 for an IPO, targeting a valuation of $4 billion.
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SoftBank offloads another 2% stake in Paytm parent for $114 Mn
Inc42
·
1y ago
Medial
Japanese tech conglomerate, SoftBank, has sold another 2% stake in One97 Communications, the parent company of Paytm, for INR 950 crore ($114 million). This move was part of SoftBank's ongoing effort to reduce its shareholding in the company to around 5%. Paytm, meanwhile, managed to reduce its net loss by 43% in Q3 FY24, reaching INR 222 crore compared to INR 392 crore in the same period last year. The company's operating revenue also rose by 38% to INR 2,850 crore.
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SoftBank sold majority stake in Paytm before regulatory scrutiny
Livemint
·
1y ago
Medial
SoftBank Group Corp. has sold a majority of its stake in Paytm before regulatory scrutiny caused the Indian fintech firm's shares to plummet. SoftBank's executive managing partner, Navneet Govil, stated that they felt it was prudent to start monetizing due to growing uncertainty in India's regulatory environment. Paytm has faced warnings from regulators regarding its dealings between its payments app and banking arm, resulting in a significant decline in its stock price. SoftBank has been offloading Paytm shares since November 2022. Their remaining stake is undisclosed.
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SoftBank offloads 2.5% stake in PB Fintech for Rs 871 crore
Economic Times
·
1y ago
Medial
Japanese conglomerate SoftBank has sold a 2.5% stake in PB Fintech, the parent firm of Policybazaar, through open market transactions for Rs 871 crore. The shares were purchased by Tata Mutual Fund, Kotak MF, Societe Generale, and other buyers. This follows SoftBank's divestment of a 5.1% stake in Policybazaar for Rs 1,043 crore in December 2022. PB Fintech operates online insurance platform Policybazaar and credit comparison portal Paisabazaar.
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Capital Group offloads 4.3% stake in SIS for Rs 258 Cr
YourStory
·
11m ago
Medial
On Wednesday, Capital Group, a financial services company, sold a 4.3% stake in cash logistics solutions provider SIS for over Rs 258 crore. The shares were sold through open market transactions, with Abu Dhabi Investment Authority purchasing shares in the company. Capital Group's affiliates, Smallcap World Fund and American Funds Insurance Series Global Small Capitalization Fund, sold a total of 62,26,115 shares at Rs 415 per share. Additionally, Abu Dhabi Investment Authority Stable and 360 One Mutual Fund bought 51.79 lakh shares, amounting to a 3.6% stake, for Rs 214.95 crore.
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SoftBank sells 2% stake in Paytm for about $300 million: Report
Money Control
·
1y ago
Medial
According to Moneycontrol, SoftBank has recently divested an additional 2% stake in One97 Communications, the parent company of Paytm. As a result, SoftBank's ownership in the company has decreased to 9.15%. The shares were sold in the open market over the past month and yielded approximately $300 million in profits for the Japanese investor. This marks the first time SoftBank has sold Paytm shares at a profit since the company's listing in November 2021.
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SoftBank fully exits Paytm at higher-than-expected net loss of $264.8 Million
YourStory
·
7m 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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SoftBank sells 2% stake in Paytm
Economic Times
·
1y ago
Medial
Japanese investor SoftBank Group Corp has sold a 2.17% stake in Indian payments firm Paytm, according to an exchange filing. This follows a previous announcement by SoftBank that it had sold a 2% stake in fintech company One97 Communications, the parent company of Paytm. SoftBank has been decreasing its stake in Paytm as it reportedly plans to eventually exit the company entirely.
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