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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
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