Corporate Valuations - News SoftBank to invest $1.9 bn, pick up 20% in Paytm



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SoftBank to invest $1.9 bn, pick up 20% in Paytm


Date: 28-April-2017

Masayoshi Son’s media and Internet conglomerate SoftBank Group is likely to put in $1.9 billion (Rs 12,000 crore) into One 97 Communications Ltd, which runs digital wallet firm Paytm, a financial daily reported. The funding is likely to value Paytm at $9 billion and SoftBank will pick up 20% stake in the payments firm. Paytm was valued at $4.8 billion after its last fundraise from Taiwanese chipmaker Mediatek in August last year. Though Paytm has received approval from the Reserve Bank of India to launch its payments banks unit, the firm is yet to roll out operations.For SoftBank, the deal will not only ensure its exposure to the payments sector but will also make it the largest shareholder in India’s second-most valued Internet firm. SoftBank is also an early investor in Alibaba (the largest stakeholder in Paytm)

 
 
 
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