SoftBank sells another 2% stake in Paytm’s parent One97 Communications Ltd, its biggest listed investment in India. The company offloaded the shares via open market operations, generating around $300 million.

Over the last month, SoftBank has been offloading shares regularly in small tranches through open market transactions.

This is the first time the Japanese investor has managed to sell shares of Paytm at a profit since the fintech company was listed in November 2021.

Since November, SoftBank has been pairing stakes in Paytm, when the one-year lock-in period in the stock ended either through open market operations or block deals.

After the current sale, SoftBank’s stake in Paytm has been reduced to 9.15%.

In November 2022, the investment major sold around 4.5% stake in Paytm for Rs 1,631 crore through an open market transaction.

SoftBank is one of India’s most active startup investors, backing over 20 unicorns.

Aside from offloading PAytm shares, SoftBank sold a part of its stake in Lenskart to ChrysCapital, a private equity firm, in June.

SoftBank has been a copious technology investor in India for years, having invested almost $12 billion within the last 6 years through 42 deals.