Japanese conglomerate SoftBank Group plans to sell $200 million worth of shares of One97 Communications, the parent company of Paytm, through a block deal on Thursday.
The deal’s banker is BofA Securities, and the price range for the sale has been established as Rs 555–601. The lower end of the price range represents a 7.7% discount from the National Stock Exchange’s close price of Rs. 601.45 on Wednesday. After the sale on Thursday, SoftBank’s stake, which was 17.45% as of September 30 through SVF India Holdings (Cayman), is expected to drop to 12.9%, according to reports.
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Japanese conglomerate SoftBank Group plans to sell $200 million worth of shares of One97 Communications, the parent company of Paytm, through a block deal on Thursday.
The deal’s banker is BofA Securities, and the price range for the sale has been established as Rs 555–601. The lower end of the price range represents a 7.7% discount from the National Stock Exchange’s close price of Rs. 601.45 on Wednesday. After the sale on Thursday, SoftBank’s stake, which was 17.45% as of September 30 through SVF India Holdings (Cayman), is expected to drop to 12.9%, according to reports.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
