SoftBank To Offload One Third of PayTM Shares
SoftBank To Offload One Third of Holdings From PayTM
The expiration date of SoftBank to sell off its shares in PayTM draws closer and the leading bank from Japan has decided to sell only a third of its total holdings. However, the sale would be done as part of a block deal. In all probability, the deal will be close to 200 million USD in terms of valuation.
At present, a total of 12.9 percent shares of One97 Communications are held by SoftBank. In the current deal, 4.5 percent of the total shares of the company will be made available for purchase by institutional investors. The entire block deal will be brokered by Bank of America.
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The sale comes after the one-year compulsory lock-in period for Paytm pre-IPO shareholders expired. PayTM began trading on BSE as well as NSE on November 15, 2021, after it managed to raise a sum of Rs. 18,300 crores in its IPO. In terms of monetary value, it is the second largest IPO to have ever come on the Indian stock exchanges.
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