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News on Medial
SoftBank sells 2% stake in Paytm for about $300 million: Report
Money Control
·
2y 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
·
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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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 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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Ant Group to sell 4% stake in Paytm for $242 Mn: Report
Entrackr
·
2m ago
Medial
Ant Group to sell 4% stake in Paytm for $242 Mn: Report Ant Group is reportedly planning to divest a 4% stake in Indian payments firm Paytm for $242 million. According to a term sheet reviewed by Reuters, the stake will be sold at Rs 809.75 per share, representing a 6.5% discount to Paytm’s closing price on Monday. The report added that Goldman Sachs India Securities and Citigroup Global Markets India will manage the transaction. The identity of the buyers couldn’t be ascertained. This sale follows previous stake reductions by Ant Group, including a 10.3% stake sold to Paytm founder and CEO Vijay Shekhar Sharma in August 2023. Paytm has seen several stake sales over the past two years, with major investors like Warren Buffett’s Berkshire Hathaway and Japan’s SoftBank Group exiting their holdings. Ant Group, an affiliate of Alibaba Group, was also a key shareholder in the company.
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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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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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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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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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Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion
Economic Times
·
12m ago
Medial
SoftBank's stakes in Ola Electric, FirstCry, and Unicommerce have soared in value to nearly $2 billion, thanks to their post-listing gains. SoftBank has already realized around $400 million in secondary stake sales. The firm's investments in FirstCry and Ola Electric have paid off, with FirstCry's market capitalization exceeding Rs 35,000 crore, and Ola Electric's shares surging 71% since its listing. SoftBank's stake in FirstCry is now valued at over Rs 7,000 crore, while its stake in Ola Electric is worth more than Rs 8,500 crore. The investor has fully exited its holdings in Paytm, Zomato, Policybazaar, and Delhivery.
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China’s Antfin pulls out over $340 mn more from Zomato
VCCircle
·
1y ago
Medial
Antfin, a subsidiary of Alibaba Group and part of Ant Group founded by Jack Ma, has sold around 176.4 million shares of Zomato, an Indian food delivery company. The sale, amounting to about a 2% stake, was conducted through bulk deals and fetched approximately $341 million. Morgan Stanley was one of the buyers, acquiring 56.8 million shares for around $109 million. Antfin's stake in Zomato now stands at 6.42% after the recent sell-off. Other investors, including SoftBank Group and Tiger Global, have also sold their stakes in Zomato in the recent past.
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