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SoftBank's stake in Paytm slips below 1%

Economic Times

Economic Times · 1y ago

SoftBank's stake in Paytm slips below 1%

SoftBank, the Japanese investor, has reduced its stake in Paytm, the fintech's parent company, One 97 Communications. The foreign direct investment (FDI) shareholding in Paytm decreased by 2% to 37.7%, and SoftBank's shareholdings fell below 1%. Domestic investors, including retail shareholders and mutual funds, increased their shareholding in the company in the first quarter of the fiscal year. Paytm reported an increase in retail investors' shareholding by 1.3% to 16.56% and mutual funds' shareholding by 0.65% to 6.8%. At the end of the fiscal year, Paytm had a total operational revenue of Rs 7,660 crore and a net loss of Rs 1,476 crore.

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Related News

Societe Generale, UBS, Tiger Pacific cut Paytm stakes below 1%

Inshorts · 9m ago

Societe Generale, UBS, Tiger Pacific cut Paytm stakes below 1%

Foreign portfolio investors Societe Generale, UBS Principal Capital Asia and Tiger Pacific Master reduced their holdings in Paytm to below 1% in the September quarter, Moneycontrol reported. The overall foreign portfolio investor ownership in Paytm fell to 16.77%, while foreign direct investment remained almost unchanged. Indian mutual funds increased their stake in Paytm to 7.86%.

SoftBank Again Offloads Stake In Paytm, Sells 1.37 Cr Shares

Inc42 · 1y ago

SoftBank Again Offloads Stake In Paytm, Sells 1.37 Cr Shares

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.

SoftBank sold majority stake in Paytm before regulatory scrutiny

Livemint

Livemint · 1y ago

SoftBank sold majority stake in Paytm before regulatory scrutiny

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.

Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion

Economic Times

Economic Times · 11m ago

Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion

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.

SoftBank cuts 2.17% stake in Paytm, stock down 4%

Livemint

Livemint · 1y ago

SoftBank cuts 2.17% stake in Paytm, stock down 4%

SoftBank has further reduced its stake in Indian fintech company Paytm. The Japanese investment giant's stake was cut to 2.83% from 5.01% in January, according to an exchange filing. The move follows a series of reductions in SoftBank's ownership in Paytm over the past year. The decision to sell off the stake was reportedly made amidst growing regulatory uncertainty in India and concerns over Paytm's banking subsidiary. Paytm's stock has been hit hard recently after the Reserve Bank of India ordered the company to shut down its banking arm due to non-compliance with regulations.

SoftBank sells 2% stake in Paytm for about $300 million: Report

Money Control

Money Control · 1y ago

SoftBank sells 2% stake in Paytm for about $300 million: Report

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.

SoftBank offloads another 2% stake in Paytm parent for $114 Mn

Inc42 · 1y ago

SoftBank offloads another 2% stake in Paytm parent for $114 Mn

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.

SoftBank Vision Fund records $544-mn loss on exit from Paytm

Money Control

Money Control · 11m ago

SoftBank Vision Fund records $544-mn loss on exit from Paytm

SoftBank's Vision Fund 1 recorded a gross loss of $544 million on its $1.6-billion investment in Paytm, which it exited in the June quarter, Moneycontrol reported. The fund booked a $394-million gross gain on an investment cost of $199 million in Policybazaar during exit. It has gained $285 million as of June on its $397-million investment in Delhivery.

SoftBank’s $118 Billion Arm Problem

Livemint

Livemint · 1y ago

SoftBank’s $118 Billion Arm Problem

Japanese technology investor, SoftBank, holds a 90% stake in chip designer Arm, positioning itself well in the AI market. However, monetizing their stake could prove challenging, mainly due to the small public float causing volatility and limited selling options. The value of SoftBank's stake in Arm currently exceeds its own market value. Options to cash out include using the Arm stake as collateral or engaging in prepaid forward contracts. SoftBank's handling of previous holdings, such as Alibaba, offer glimpses into their potential strategies.

OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Economic Times

Economic Times · 7m ago

OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Softbank is set to acquire shares worth $1.5 billion from OpenAI employees, allowing the Japanese tech conglomerate to increase its stake in the AI company. Employees have the opportunity to liquidate their shares, with Softbank's founder and CEO Masayoshi Son driving the deal. Son has shown a keen interest in the AI sector and is focused on backing valuable private players in the space. This move reflects Softbank's strategy to deploy capital into businesses with high cash requirements. The generative AI market is predicted to reach $1 trillion in revenue over the next decade, with OpenAI's rivals, such as Anthropic and Google, ramping up their efforts. Softbank's India portfolio already boasts successful firms like FirstCry, Ola Electric, Swiggy, and Unicommerce.

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