SoftBank arm SVF India Holdings has offloaded 2.01 per cent shares in fintech unicorn Paytm, reducing the Japanese investment firm's stake in the company to 9.15 per cent.
     
SoftBank has sold 12,771,434 equity shares in the fintech major's parent company One97 Communications via open market operations between May 9, 2023, and July 13, 2023, One97 Communications said in a regulatory filing on Tuesday.

SVF India Holdings had sold 4.5 per cent in November 2022 and another 2.07 per cent in the first half of 2023.

Prior to this, the Japanese conglomerate offloaded a 2.07 per cent stake in the fintech firm. Chinese firm Alibaba also diluted a 3.3 per cent stake in the company. 

According to a report by The Economic Times (ET), the company is planning to offload shareholding in Paytm in a gradual manner. It recently offloaded a part of its stake in Lenskart in a $600 million fundraising round. The company may sell a part of its share in Firstcry, which may head to its initial public offering (IPO). It also raised around $130 million by liquidating shares in Delhivery. 

Overall, SoftBank has made exits worth $6 billion in India. It also divested a part of its shareholding in the Indian e-commerce giant Flipkart. 

(With Inputs from PTI)