SoftBank has sold more than 13.7 million shares, equivalent to around 2.17 percent of Paytm, in the open market over the past month. This occurred even as the fintech company’s stock price faced challenges due to a regulatory crisis.
Following this recent sale, SoftBank’s ownership stake in Paytm’s parent company, One97 Communications, has been reduced to 2.83 percent.
In a statement, the company mentioned, ""SVF India Holdings (Cayman) Limited has disposed of an aggregate of 13,784,787 equity shares of One97 Communication Limited in a series of disposals undertaken between January 23, 2024, and February 26, 2024, with a disposal on February 26, 2024, breaching the 2% threshold specified in Regulation 29 (2) of the SEBI Takeover Regulation.”