SoftBank offloads 2% stake worth $120 million in Paytm to meet SEBI rules

This was done in a series of open market transactions since Feb 2023 to comply with Sebi's takeover regulations

Japanese technology investor SoftBank on Thursday informed the stock exchanges that it has sold 2.07 per per cent stake in One97 Communications Limited - the parent entity of fintech firm Paytm. This was done in a series of open market transactions since February 2023 to comply with the market regulator Securities and Exchange Board of India’s (Sebi) takeover regulations.

"SVF India Holdings (Cayman) has disposed of an aggregate of 13,103,148 equity shares of One 97 Communications Limited in a series of disposals undertaken between February 10, 2023 to May 8, 2023, with the disposal on May 8, 2023 breaching the 2 per cent threshold specified in Regulation 29(2) of the Sebi Takeover Regulations," SoftBank said in a regulatory filing to the stock exchanges.