The deal involves $400 million worth of shares that Softbank will buy from Paytm's early investor SAIF Partners in a secondary transaction, and a minor stake from founder Vijay Shekhar Sharma, an official close to the development informed.
The deal values the company at about $7 billion post-money (including the investment) and will take SoftBank’s stake to about 20%.
Paytm is eyeing to invest about $1.6 billion over the coming 3-5 years towards enabling half-a-billion Indians to join the mainstream economy, the company informed on Thursday.
The company also informed that it will soon launch Paytm Payments Bank, a mobile-first product that will extend its reach to every corner of the nation
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