Japan's Softbank Divests Its Entire Stake In Paytm
The Japanese conglomerate has been continuously divesting its stake in the fintech giant.
Japan’s Softbank has completely divested its stake in One97 Communication, Paytm's parent company. As per Paytm’s shareholding data, SVF India Holdings (Cayman) Ltd. has sold off its remaining 1.4% stake in the company.
The Japanese conglomerate has been continuously divesting its stake in the fintech giant. It had a 12.88% stake in Paytm at the end of FY23 which was brought down to 1.4% in March 2024. During its IPO in November 2021, the Japanese giant held nearly 18% of Paytm’s total’s shares.
The total foreign direct investment in Paytm also shrank by 2% between March 2024 and June 2024.
In the first quarter of FY2025, domestic mutual funds, spearheaded by Nippon India Mutual Fund and Mirae Mutual Fund, increased their shareholding by 0.65%, reaching 6.80%.
