Softbank on Thursday divested 4.5% stake in Paytm’s parent One97 Communications for ₹1,631 crore through an open market transaction.
Earlier this month, the lock-in period ended for the pre-offer investors that had invested in Paytm, which was listed on the bourses in November last year.
According to bulk deal data available with the National Stock Exchange (NSE), SVF India Holdings (Cayman) Ltd. sold a total of 2,93,50,000 shares, amounting to 4.5% stake in the company.
SVF India Holdings (Cayman) Ltd is a subsidiary of Softbank.
The shares were offloaded at an average price of ₹555.67 per piece, taking the transaction value to ₹1,630.89 crore.
Softbank is the second largest shareholder with a 17.45% stake in the company.
Post the latest transaction, Softbank’s shareholding will decrease to 12.95% from 17.45% stake in the company.
Softbank had invested $1.6 billion in Paytm in the last quarter of 2017 and offloaded shares worth $220 million at the time of its IPO.
On Thursday, BofA Securities Europe SA, Morgan Stanley Asia Singapore Pte and Societe Generale – ODI purchased a total of 1.81 crore shares of Paytm.
Shares of the company plunged 11% to close at ₹536.60 on the NSE.
