 "Paytm")
SoftBank plans to offload 29 million shares in One97 Communications, which operates India’s largest payments platform Paytm. The global tech investor is offering shares in the range of Rs 555-Rs 601.45 via block deals which will get executed on Thursday. The floor price for the share sale is nearly 8 per cent lower than Paytm’s last closing price of Rs 601.6. The share sale comes close on the heels of the end of one-year post-IPO lock up period on Paytm shares. Shares of Paytm declined nearly 4 per cent on Wednesday.
Currently, SoftBank Vision Fund (SVF) holds around 113 million,
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