Paytm’s Singapore unit to sell stake in Japan’s PayPay for Rs 2,364 crore

Indian fintech major Paytm’s wholly-owned Singapore entity is set to sell its stake in Japanese fintech corporation PayPay to Softbank Vision Fund 2 for Rs 2,364 crore.

One97 Communications Singapore approved the sale of Stock Acquisition Rights (SARs) held in PayPay Corporation on Friday. The transaction is expected to close this month subject to approvals. The sale is expected to strengthen the parent company’s cash reserves.