The stock acquisition rights (SARs), originally acquired by One97 Communications Singapore (Paytm Singapore) in September 2020, will be sold to an entity under SoftBank Vision Fund 2. This deal values PayPay at JPY 1.06 trillion, with Paytm’s stake in the firm yielding significant returns after netting off exercise costs.
The transaction is expected to close by December 2024, subject to corporate approvals and other customary conditions. The board of Paytm Singapore approved the sale, citing the substantial value created by the SARs as a significant factor. The proceeds from the deal are expected to bolster Paytm’s cash reserves.
Paytm reported a consolidated net profit of Rs 928.30 crore in Q2 FY25, a turnaround from the net loss of Rs 290.50 crore in the same quarter last year. However, its revenue from operations declined 34.1% year-on-year to Rs 1,659.50 crore for the September 2024 quarter.
Paytm, a leader in India’s mobile payments and financial services sector, has been at the forefront of India’s QR payment revolution in the past few years.
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