SoftBank's SVF Holdings (Cayman) Limited sold 2.01 per cent shares of One 97 Communications of Paytm between May 9, 2023 and July 13, 2023 through the open market, the company announced on Tuesday through an exchange filing. The company sold an aggregate of 1,27,71,434 shares on the BSE and NSE, reducing its shares holding to 9.15 per cent.
Prior to the sale of shares SoftBank held a total of 11.16 per cent stake in Paytm consisting of 7,08,09,082 shares. Despite the sale of 2 per cent shares the company still holds 63,42,30,300 shares of voting capital.
SoftBank makes Profit
The company is making profit as the shares of Paytm have been above Rs 830, which is the cost price for SoftBank. This will make it the first time that the company has sold shares and made a profit since fintech got listed on the BSE and NSE in November 2021.
SVF Holding sells 2% Paytm Stake in February-May
SVF India Holding (Cayman) between February 10 and May 8 of this year sold close to 2.07 per cent or 1,31,03,148 shares for close to $120 million bringing the stakes down from the initial 13 per cent to 11.17 per cent. The company in November 2022 sold 4.5 per cent stake for Rs 1,631 crore.
The shares of Paytm on Tuesday morning dropped 1.18 per cent at 11:22 am, the shares were trading at Rs 852.40.
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