One97 Communications, Paytm’s parent company, announced that its wholly-owned subsidiary, One97 Communications Singapore (Paytm Singapore), has approved the sale of Stock Acquisition Rights (SARs) held in PayPay Corporation, Japan.
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. Through this deal, PayPay is valued at JPY 1.06 trillion and accordingly, PayPay SARs held by Paytm Singapore are valued at net proceeds of JPY 41.9 billion (after netting off the exercise cost of SARs). The transaction is expected to be closed in December 2024 subject to the satisfactory completion of all corporate approvals and customary closing conditions.
Paytm Singapore spokesperson said, “We are grateful to Masayoshi-san and the PayPay team for giving us the opportunity to together create a mobile payment revolution in Japan. We remain fully committed and will continue to support PayPay’s product and technology innovations in future. We are working on introducing new AI-powered features to accelerate PayPay’s vision in Japan.”
