BofA Securities is the banker for the deal, and the worth vary for the sale has been set at Rs 555-601. The decrease finish of the worth band is a 7.7% low cost to Wednesday’s shut worth of Rs 601.45 on the Nationwide Inventory Trade.
As of September 30, SoftBank held a 17.45% stake within the fintech agency by SVF India Holdings (Cayman) put up the sale on Thursday — its stake is prone to fall to 12.9%, reviews mentioned.
SoftBank had invested $1.6 billion in Paytm and had bought a partial stake value $220-250 million within the preliminary public providing final 12 months.
SoftBank’s funding within the fintech main is beneath losses, because the inventory has corrected greater than 72% from its difficulty worth of Rs 2,150.
Softbank is probably going promoting its stake because the one-year lock-in for present buyers ends.