Paytm Singapore, formerly known as One 97 Communication Singapore subsidiary of Paytm, has approved sale of Stock Acquisition Rights held in PayPay Corporation, Japan.
The Company sells its stock acquisition rights for the net proceeds of JPY 41.9 billion (equivalent to INR 2,364 crores) to a SoftBank Vision Fund.
Through this deal, PayPay is valued at JPY 1.06 trillion and accordingly, PayPay SARs held by Paytm Singapore are valued at net proceeds of JPY 41.9 billion.
The transaction is expected to be closed in December 2024 subject to the satisfactory completion of all corporate approvals and customary closing conditions.
For more details visit- (https://nsearchives.nseindia.com/corporate/PAYTM_07122024123015_SEDisclosurePayPay.pdf)
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