Japan's SoftBank pumps in $1.8 billion in Paytm

Valuation jumps nearly 50% to $9 billion

Ensuring that it remains in the driver’s seat of the Indian e-commerce ecosystem even as it continues its talks to sell its biggest bet in the country, Japanese telecom major SoftBank has invested $1.8 billion in mobile wallet major Paytm.

SoftBank, after its failed experiment in Jasper Infotech-owned Snapdeal and FreeCharge, in which it invested close to a billion dollars, will be the biggest stakeholder Paytm’s parent company, One97 Communications, pushing Chinese internet giant Alibaba to second spot.

The move would help SoftBank maintain its bellwether status of being the lead investor in the country and it will