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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 

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 ...

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First Published: Fri, April 28 2017. 12:42 IST
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