In the third quarter ending December 2023, home retail traders have sequentially raised their stake in Paytm from 8.28 % to 12.85 %.
The current sale of a 2 % stake resulted in an approximate income of Rs 950 crore.
Through open market operations during the last month, SoftBank has offered a further 2 % stake in One97 Communications, the guardian firm of Paytm, its most substantial listed funding in India.
Following the current sale, the Japanese investor now holds a lowered stake of roughly 5.06 %.
Also Read: Paytm Q3 Losses Narrow to Rs 221.7 Crore, Revenue Up 38% YoY
“SVF India Holdings (Cayman) Limited has disposed of an aggregate of 12,706,807 equity shares of One97 Communications Ltd in a series of disposals undertaken between December 19, 2023 and January 20, 2024, with the disposal on January 20, 2024 breaching the 2 percent threshold specified in Regulations 29(2) of the Sebi Takeover regulations,” Moneycontrol quoted the corporate as saying on January 24.
The investor, which possessed practically a 7 % stake within the fintech large final yr, offered 0.55 % in December and a further 1.4 % in January. This transfer coincided with a 20 % surge in Paytm shares over the previous month.
The current sale of a 2 % stake resulted in an approximate income of Rs 950 crore.
In the third quarter ending December 2023, home retail traders have sequentially raised their stake in Paytm from 8.28 % to 12.85 %.
The share of home establishments, doubtlessly buying the stake beforehand held by Japanese traders, has elevated from 4.06 % to six.06 %.
For the third quarter ending December 2023 (Q3FY24), fintech reported a 38 % soar in consolidated income at Rs 2,850 crore, whereas narrowing down losses to Rs 222 crore.
Beyond Paytm
In addition to the gradual sale of Paytm stakes over the previous yr, SoftBank’s enterprise capital fund, SVF Growth (Singapore) Pte Ltd, concluded its exit from the web meals supply platform Zomato, securing roughly Rs 1,125 crore.
According to a Moneycontrol report, SoftBank had landed Zomato shares after the platform acquired Blinkit in 2022. The lock-in interval of 12 months for these shares expired in August 2023, prompting SoftBank to provoke the offloading course of.
According to an ET report, the investor finalised its departure from PB Fintech by divesting its remaining stake in a mid-December transaction, realising a 3X return of roughly Rs 914 crore.
