SoftBank reduces its stake in Paytm to 9.15% with another 2% offload

SoftBank, the Japanese investment firm, has reduced its stake in Paytm, the Indian digital payments company, to 9.15%. The company sold 2% of its stake in Paytm through open market transactions.

SoftBank was one of the earliest investors in Paytm, and it had a 21% stake in the company at its IPO in November 2021. However, the stock price of Paytm has fallen sharply since its IPO, and SoftBank has been offloading its stake in the company.

The latest sale of shares by SoftBank brings its total stake in Paytm to 9.15%. This is below the 10% threshold that would require SoftBank to make a disclosure to the Indian stock market regulator.

The sale of shares by SoftBank is a sign of the growing investor concerns about Paytm. The company has been struggling to grow its user base and its financial performance has been weak.

Here are some additional details about the sale:

• The sale was done through open market transactions.
• The sale reduced SoftBank’s stake in Paytm to 9.15%.
• The sale is a sign of the growing investor concerns about Paytm.