Gurpurub Offer - GURPURUB24

Join Here

SoftBank Sells Stakes in Paytm

Published on November 20, 2022
Current Context: The SoftBank Group Corporation sold 4.5% stakes in the owner of the Paytm payments app, One97 Communications Ltd.
SoftBank Sells Stakes in Paytm
  • A total of 29.4 million shares (4.5% stakes) were sold by the SoftBank Group Corporation at USD 200 million.
  • The shares were sold via Open Market Transaction at a closing price of INR 601.30.
  • The Bank of America led the sale transactions that follow the end of 1-year obligatory lock-in for pre-IPO investors in Paytm.
  • Paytm is a financial services company that was established in 2010 with its headquarters in Noida, UP. The current CEO of the company is Vijay Shekhar Sharma.
  • SoftBank Group is a Japan-based multinational conglomerate holding company that was established in 1981 with its headquarters in Tokyo, Japan. The current CEO of the company is Masayoshi Son.

Question:

Q.1 Which company recently sold 4.5% of its stakes in Paytm for USD 200 million?
a. Aditya Birla Group
b. SoftBank Group
c. Subaru Corporation
d. Hyundai Group
ebook store

About Me

Ramandeep Singh

Ramandeep Singh - Educator

I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu