PayTM-PayPay Stake Sale: Vijay Shekhar Sharma's Company Shares Update; To Increase Cash Balance

Vijay Shekhar Sharma's Paytm (One 97 Communications Pvt Ltd) will be selling its stake in Japan's PayPay to Japan's SoftBank. In an exchange filing, PayTM said that the Board of Directors of the company approved the sale of Stock Acquisition Rights (SARs) in PayPay Corporation, Japan. 

PayTM-PayPay Stake Sale: What We Know So Far

"We have been informed by One97 Communications Singapore Private Limited, a wholly owned subsidiary of the Company that the Board of Directors at its meeting held today ie, December 6, 2024, approved the sale of Stock Acquisition Rights (SARs) in PayPay Corporation, Japan. The transaction is subject to the satisfactory completion of all corporate approvals, execution of transaction documents and customary closing conditions," the company said.

According to reports, PayTM's stake sale in PayPay is pegged at about Rs 2000 crore. Republic Business, however, could not independently verify the value of the stake sale.

This transaction is expected to increase the consolidated cash balance of the Company. The move is in line with PayTM's plan to divest from its non-core assets and focus on its core business. Recently, PayTM sold PayTM Insider to Zomato for Rs 2048 Crore. 

PayTM Share Price Today

Shares of PayTM (One 97 Communications Ltd) hit an all-time high and closed higher for the fourth consecutive day on Friday. After opening at Rs 959.60 apiece, the stock price of PayTM traded higher to close at 976.25 apiece, up 2.13 per cent. In the quarterly results declared last month, PayTM reported a net profit of Rs 928.3 crore. The September profit could be viewed against the loss of Rs 290.5 crore that the company reported in the corresponding quarter last year.