Mumbai: softbank has sold an additional 2% stake in Paytm, reducing its stake in the Noida-based fintech It was up 5.06%, the company said in a recent stock exchange filing. SoftBank – which has invested more than $1 billion Paytm – was one of its largest shareholders, and held about 18% of the firm at the time of its IPO in 2021.
Japanese investment giant, which has backed groups like Indian unicorns Ola Electricoyo and swiggy, is reducing its stake in local startups. Recently, it completely exited PB Fintech, which runs Policybazaar and Zomato.