Paytm: SoftBank sells Paytm shares for Rs 1,631 crore

Mumbai: Japan’s SoftBank Group on Thursday sold 29 million shares in parent Paytm through a block deal to raise around ₹1,631 crore. Shares were sold at £555.67 each. Shares fell 10% on Thursday to end at INR 539.55.

Societe Generale, Morgan Stanley and BofA Securities bought PayTM shares worth £393m, £333m and £279m, respectively.

As of September 30, SoftBank held a 17.45% stake in the fintech company through SVF India Holdings (Cayman). His stake has fallen to 12.9% since the deal was made after Thursday. The lock-in period for Paytm’s IPO investors ended on November 15.

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