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While the payment aggregator licence was thought to be routine initially, for the likes of Razorpay and Cashfree, it makes a big impact as they step out of the ban on bringing in new customers.
Paytm is yet to make official disclosures on the transaction to Indian stock exchanges.
In May, SoftBank had sold a 2.07% stake in Paytm through open market transactions that began in February. Prior to the latest transaction, SoftBank held around 11% in the Noida-headquartered fintech company.
This weeks ETtech newsbreak on PharmEasy going for a rights issue at a price 90% lower than its peak valuation of $5.6 billion to repay debt has tripped alarm bells in several startups that have taken debt financing.
Happy Friday! Arokiaswamy Velumani, founder of Thyrocare, which was acquired by PharmEasy in 2021, had secured anti-dilution rights when he invested in the epharmacy startup. We have details on that, and more in todays ETtech Morning Dispatch.