Paytm Shares For Sale, To Fetch USD 200 Million
Softbank to sell Paytm shares worth USD 200 million as lock-in period ends.
One97 Communications, which operated the brand Paytm, is offering nearly 8% discount than current market rate.
29 million shares are being offered at Rs 555 to Rs 601.45 via block deal.
Bank of America is the sole broker of the block deal.
Softbanks shares have fallen 70% as compared to its IPO issue price, making its investment in Paytm negative.
Softbank owned 17.5 percent shares by inventing USD 1.6 billion
Other major investors are AliBaba, Elevation Capital and Berkshire Hathway.