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Softbank to sell Paytm shares worth $200 million via block

SoftBank Group, a Japanese conglomerate, plans to sell $200 million in shares of One97 Communications, the parent company of Paytm, through a block deal on Thursday. BofA Securities is the deal’s banker, and the sale’s price range has been specified as Rs 555–601. The lower end of the pricing range is 7.7% less expensive than the National Stock Exchange’s Wednesday close price of Rs. 601.45. SoftBank’s shareholding, which was held through SVF India Holdings (Cayman) and was 17.45% as of September 30, is anticipated to decrease to 12.9% following the sale on Thursday, according to reports.

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