BENGALURU (Reuters) – SoftBank Group Corp will sell shares worth $215 million in Indian e-payments giant Paytm’s parent through a block deal, Indian broadcaster CNBC-TV18 reported, citing sources.
The deal’s base price of 555 rupees per share is at a 7.7% discount to One 97 Communications Ltd’s last close, the report said.
The news comes a day after the lock-in period for investors in Paytm’s November 2021 initial public offering closed. Shares of the company settled 4% lower on Wednesday, after touching a five-month low.
SoftBank had a 17.5% stake in the digital payments and fintech company, as of Sept. 30.
Paytm and SoftBank did not immediately respond to a Reuters request for comment.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Devika Syamnath)
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