Softbank exits Paytm in June quarter at loss of around $150 mn: Report

Japan’s Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around $150 million, sources aware of the development said.

Softbank invested about $1.5 billion in One97 Communications — the owner of Paytm brand — in tranches in 2017.

“Softbank has exited Paytm at a loss of 10-12 per cent. The total loss is around $150 million,” one of the sources said.