7/29/2023 0 Comments Call of duty black ops 2 fovSoftBank has been paring stake in Paytm since November, when the one-year lock-in period for the stock ended either through open market operations or block deals. In June, it was first reported that SoftBank will be selling minor stakes in Paytm and Zomato through open market operations as the two stocks had finally turned profitable for the Japanese investor. This is the first time that the Japanese investor managed to sell shares of Paytm at a profit since the fintech got listed in November 2021. SoftBank, through open market transactions, has been offloading shares regularly over the last month in small tranches and largely at a profit as Paytm’s share price has been above Rs 830 during the period, which was the cost price for the Japanese investor. This is yet another instance of the Japanese investor monetising its bets in the country, its third-largest investment destination amid a funding drought. SoftBank had sold another 2 percent stake in One97 Communications Ltd, its biggest listed investment in India, over the past month through open market operations, generating about $300 million. Shares of One97 Communications Ltd, the parent company of Paytm, declined 2 percent to Rs 844.50 on July 18 at 12:04pm, after SoftBank offloaded 2 percent additional stake in Paytm.
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