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Paytm parent company nears $250m PayPay stake sale to SoftBank
One97 Communications, the parent company of Indian fintech firm Paytm, is nearing a US$250 million deal to sell its stake in the Japanese digital payments firm PayPay Corporation to SoftBank Group.
With the projected stake sale, Paytm’s cash reserves could rise from over 10,000 crore rupees (US$1.1 billion) to around 12,000 crore rupees (US$1.4 billion).
Earlier in the year, Paytm sold its entertainment ticketing platform, Paytm Insider, to Zomato for 2,048 crore rupees (US$241 million).
Recent Paytm developments
| Timeline |
|---|
30-Nov-2024 📈 Paytm parent company’s shares hit 52-week high
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22-May-2024 📉 Paytm’s issues dent Q4 earnings, but hits first EBITDA profitable year in FY 2024
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06-May-2024 🚀 Paytm shifts management, COO steps down
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10-Apr-2024 🏦 Paytm Payments Bank CEO steps down amid regulatory troubles
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15-Mar-2024 💳 Paytm gets nod to be third-party UPI provider, shares jump 5%
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| 01-Mar-2024 💰 Paytm gains after cutting links with payments bank affiliate |
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