SoftBank’s Masayoshi Son is bullish on Paytm IPO
- ByStartupStory | November 9, 2021
SoftBank had initially invested in Paytm parent One97 Communications in 2017 after which the payments firm was valued at $7-8 billion. SoftBank invested about $1.4 billion in Paytm through a mix of primary and secondary share sales four years ago.
Paytm’s initial public offering (IPO), which opened to muted response on Monday, should be a “great event” for investor SoftBank Group Corp., according to its chief executive. Last week, Paytm raised Rs 8,235 crore — about 45% of the Rs 18,300 crore planned IPO fundraise — from anchor investors. Top sovereign wealth funds and financial investors such as Singapore’s GIC, Canada’s CPPIB, BlackRock, Alkeon Capital, and Abu Dhabi Investment Authority are among those that picked up stakes in Paytm’s anchor round that was subscribed 10 times over.
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