Mumbai: Japan’s SoftBank Group sold 29 million shares of Paytm parent on Thursday through a block deal to raise about ₹1,631 crore. Shares were sold at ₹555.67 apiece. Shares of fell 10% on Thursday to close at ₹539.55.
Societe Generale, Morgan Stanley, and BofA Securities bought PayTM shares worth ₹393 crore, ₹333 crore and ₹279 crore, respectively.
As of September 30, SoftBank held a 17.45% stake in the fintech firm through SVF India Holdings (Cayman). Post-Thursday’s block deal, its stake has declined to 12.9%. The lock-in period for pre-initial public offering investors of Paytm ended on November 15.
