Paytm parent One97 falls 10% on SoftBank stake sale report Shares of Paytm's parent One 97 Communications Ltd fell as much as 10 per cent to their lowest since May after Reuters reported that SoftBank Group Corp will sell shares worth up to $215 million in the Indian e-payment platform.
SoftBank Group Corp aims to sell shares worth up to $215 million in Indian e-payments giant Paytm's parent One 97 Communications Ltd through a block deal, according to a term sheet reviewed by Reuters.
The lower end of the range is at a 7.7 per cent discount to the company's last closing price.
The final price in the sale will be set later Thursday.
SoftBank and Paytm did not respond to requests for comment.
The news comes a day after the lock-in period for investors in Paytm's November 2021 initial public offering closed.
Source: NDTV
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