Paytm arm approves sale of stake in Japanese firm Paypay valued around Rs 2,000 cr

Fintech firm One97 Communications, which owns Paytm brand, has approved the sale of stake in Softbank group's fintech firm PayPay Corporation, the company said in a regulatory filing on Friday.

Paytm holds 7.2 per cent stake in PayPay Corporation.

''We have been informed by One97 Communications Singapore Pvt Ltd, a wholly owned subsidiary of the company at 12.49 PM (IST), that its Board of Directors at its meeting held today i.e., December 6, 2024, approved sale of Stock Acquisition Rights (SARs) in PayPay Corporation, Japan,'' Paytm said in the filing.

According to Paytm senior officials, the stake was valued around Rs 2,000 crore, close to USD 236 million, in July 2024.