Softbank to sell Paytm shares worth $200 million via block deal

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SoftBank is seeking to offer $215 million worth of shares in Paytm as the fintech's lock-in for pre-IPO financiers ends later on today.

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The Japanese financier is providing to offer 29 million shares in the business at Rs 555 to Rs 601.45 each,

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at a discount rate of as much as 7.72 percent to the existing market value.

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SoftBank's financial investment in Paytm remains in the red.

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It had actually made an overall financial investment of $1.6 billion in the fintech significant and gotten around $220-250 million in the business's IPO last November.

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With the fintech's shares trading 70 percent listed below its IPO rate, SoftBank's staying stake of around 17.5 percent in the business is presently worth $900 million.

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Softbank anticipates to raise around USD 200 million at the lower end of the rate band, 555. Paytm shares closed at 601.45 at BSE on Wednesday.

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The offer might bring Softbank around USD 215 million at the upper end.

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The present holding of Softbank at closing cost is valued at around USD 835 million.

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