Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

SoftBank Group’s shareholding in Paytm drops below 1%

As of the quarter ended March 2024, SoftBank held a 1.4% stake in Paytm, which dropped below the 1% mark by June of this year.

SoftBank Group’s shareholding in Paytm drops below 1%

Saturday July 13, 2024 , 2 min Read

Japan’s SoftBank Group’s shareholding in Paytm’s parent company, One97 Communications Limited, has dropped below 1%, according to a recent stock exchange filing.

As of the quarter ended March 2024, SoftBank Vision Fund India Holdings (Cayman), a SoftBank entity, held a 1.4% stake in the fintech firm. However, according to the shareholding pattern for the quarter ended June 2024, SVF is no longer listed among shareholders holding more than 1% of the total shares.

In May, The CapTable reported that SoftBank, one of India’s biggest startup investors, might fully exit Paytm by the end of the April-June quarter. The Japanese group is expected to incur a loss of $100-150 million on its $1.4 billion investment in the fintech company.

Also Read
Labour Commissioner summons Paytm, employees over alleged forced terminations

During Paytm's initial public offering in 2021, SoftBank held an 18% stake in the Vijay Shekhar Sharma-led firm. Over the past 10 months, the Japanese investor has been regularly selling Paytm stock through OMOs, as well as block and bulk deals on the stock exchanges.

Meanwhile, foreign direct investment shareholding in Paytm dropped to 37.77% at the end of June, down from 39.77% three months earlier.

While investors like SoftBank are exiting the fintech firm, others are increasing their stakes, including Mirae Mutual Fund and Nippon India Mutual Fund. Due to purchases by these two funds, mutual fund shareholding in the company has risen to 6.8% from 6.15%.

In the quarter ended June, individual investor Akash Bhanshali also raised his stake to 1.21%.

Paytm debuted on the stock exchange in November 2021 with a much-anticipated price of Rs 1,955. Since then, the share price has plummeted by over 75%. On Friday, Paytm’s shares closed 2.47% lower at Rs 467.25 on the BSE.


Edited by Jyoti Narayan