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.