Softbank further trims India exposure, offloads Meesho shares worth Rs 1,885 crore
In the latest transaction, SVF II Meerkat (DE) LLC, an affiliate of SoftBank, offloaded 7.64 crore shares in Bengaluru-based Meesho, according to the block deal data on the National Stock Exchange (NSE). The share sale was executed on Friday at an average price of Rs 246.75 apiece, taking the total deal value to Rs 1,885.17 crore.
SVF II Meerkat (DE) LLC, an affiliate of SoftBank, offloaded 7.64 crore shares in the Bengaluru-based company Meesho. According to Economic Times Tech, the block deal was executed on Friday via the National Stock Exchange at an average price of Rs 246.75 per share, totaling Rs 1,885.17 crore.
Separately, Paytm's payments services unit received preliminary central bank approval to issue prepaid payment products, such as digital wallets, The Hindu reports. The company stated in a filing that the unit can offer these instruments once it receives final authorization from the RBI. Following this news, Paytm shares reached a record high of 1,960 rupees.
Brief written by urgent.news from Economic Times Tech, The Hindu — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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