Japanese innovation financier SoftBank has actually offered another 2% stake in digital payments business Paytm. This and more in today’s ETtech Top 5. In this letter: ■ Explained: Consumer start-ups and platform charge ■ Groww stops United States stock trading services ■ Nazara to obtain Comic Con India SoftBank unloads another 2% stake in Paytm SoftBank CEO Masayoshi Son SoftBank has actually unloaded another 2% stake in digital payments firm Paytm, the most current in a series of divestments in Indian start-ups. Inform me more: SVF Holdings (Cayman) Ltd, a SoftBank entity, offered 12.7 million equity shares of Paytm in between December 19, 2023 and January 24, according to a stock market filing by SoftBank. It held a 13.24% stake in Paytm since February 2023. It has actually considering that continued to dilute its stake. The tech financier presently owns 5.06% stake in One 97 Communications, the moms and dad entity that owns and runs the Paytm brand name. Amongst the 4 noted bets, Paytm has actually shown to be a drag on SoftBank’s financial investments in India. Paytm financing translated: Where does it stand after downturn in small-ticket credit? Divestment strategies: The most current deal remains in line with Masayoshi Son-led SoftBank’s method over the previous year, where it has actually been gradually diluting its holding in noted Indian start-ups through public market offers. Last month, SoftBank completely left 2 of its Indian financial investments in insurance coverage and credit market PB Fintech and food-delivery platform Zomato. It has actually earned a profit of about $450 million from its $200 million financial investment in the Policybazaar moms and dad. Q3 scorecard: One 97 Communications stated its financial third-quarter bottom line diminished 43% from a year previously to Rs 221.7 crore. Earnings from operations increased 38% to Rs 2,850.5 crore, wh
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