STOCKWATCH

Paytm Singapore to Sell PayPay Stock Acquisition Rights for INR 2,364 crore

One 97 Communications Ltd's wholly owned subsidiary, Paytm Singapore, has approved the sale of its Stock Acquisition Rights (SARs) in PayPay Corporation, Japan, to a SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to INR 2,364 crore). The transaction values PayPay at JPY 1.06 trillion, and the SARs held by Paytm Singapore are valued at net proceeds of JPY 41.9 billion. The sale is expected to close in December 2024, subject to customary closing conditions and corporate approvals. The proceeds from the sale will strengthen One 97 Communications Ltd's consolidated cash reserves and help drive future business initiatives.

• Paytm Singapore to sell Stock Acquisition Rights in PayPay Corporation, Japan, to SoftBank Vision Fund 2 entity
• Transaction valued at JPY 1.06 trillion
• Paytm Singapore to receive net proceeds of JPY 41.9 billion from the sale of SARs
• Proceeds to strengthen One 97 Communications Ltd's consolidated cash reserves
• Transaction expected to close in December 2024