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Paytm Mall backed by SoftBank and Alibaba

It announced in April to bring its stake to 21 percent
BY BEx Bureau
BusinessEx
Jun 13, 2018

Paytm Mall has received an amount of Rs $200 million (Rs 1,340 crore) from SoftBank and $25 million (Rs 168 crore) from Alibaba, the company said in a filing with the Registrar of Companies on Tuesday. SoftBanks infusion is the latest tranche of the $400-million investment in Paytm mall. It announced in April to bring its stake to 21 percent. The filing on Tuesday said Paytm Mall had allotted 211,293 shares at an issue price of $946.55 to SB Investment Holdings (UK) and 26,412 shares to Alibaba.com, Singapore E-commerce. SoftBank plans to invest as much as $3 billion in the company.

Sources said that Softbanks managing partner Kabir Mishra will be appointed as the director in Paytm Mall.

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