Paytm Singapore unit approves stake sale in Japan-based PayPay for Rs 2,364 crore

One 97 Communications Limited that owns the brand Paytm, announced that its wholly-owned subsidiary, One97 Communications Singapore Private Limited (Paytm Singapore), has approved the sale of Stock Acquisition Rights (SARs) held in PayPay Corporation, Japan (PayPay).

These SARs, acquired by Paytm Singapore in September, 2020 will be sold to a SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to Rs 2,364 crore), the company said.