Paytm arm to sell Stock Acquisition Rights in Japan’s PayPay for Rs 2,364 crore

Fintech firm and owner of Paytm brand One97 Communications’ Singapore-based arm has approved the sale of its Stock Acquisition Rights in Japan’s PayPay to Softbank Vision Fund 2 for Rs 2,364 crore, the company said in a regulatory filing on Saturday.

Paytm and Paytm Singapore had signed an agreement with the Japanese digital wallet firm, Softbank Corp, Softbank Group Corp and Yahoo Japan Corporation to provide technology services to PayPay.