Paytm Singapore, a subsidiary of One97 Communications Ltd, has announced the sale of its Stock Acquisition Rights in PayPay Corporation to SoftBank Vision Fund 2 for approximately Rs 2,364 crore (JPY 41.9 billion).
This transaction is part of a broader deal valued at around $250 million, which aims to divest Paytm's stake in the Japanese digital payments firm.
The completion of this transaction is expected by December 2024, pending necessary corporate approvals and the execution of transaction documents.
The proceeds from this sale will strengthen Paytm's consolidated cash reserves, enabling future initiatives to enhance shareholder value.