One97 Communications, owner of electronics payments provider Paytm, is set to raise more than 120 billion rupees ($1.87 billion) from Japan's SoftBank Group <9984.T>, the Economic Times reported on Friday citing sources. The deal will value Noida-based One97 at about $9 billion and provide a 20 per cent stake to SoftBank, the report said. Moreover, One97 plans to earmark nearly $1 billion to expand its payments business into high growth areas like lending and insurance, the report added. SoftBank declined to comment. Paytm was not immediately reachable for ...
Paytm parent One97 set to raise over $1.8 billion from SoftBank: report
The deal will value Noida-based One97 at about $9 billion and provide a 20% stake to SoftBank
Reuters Last Updated at April 28, 2017 13:57 IST