19 May 2017

Japan's SoftBank Invests Rs 9,000 Crore in Paytm

Japan's SoftBank Invests Rs 9,000 Crore in Paytm

Softbank has made its biggest investment in an Indian digital enterprise by sealing a funding round of Rs 9,000 crore ($1.4 billion) in mobile payments provider Paytm.

The Japanese internet and telecom conglomerate will now own about a fifth of the Noida-based company estimated to be worth $8 billion, making it the country’s second most valuable startup. This is the largest fund infusion by a single investor in an Indian start-up and also Softbank's largest investment in a single company in India.

Important Takeaways from above News for BOB PO Exam-
  • Paytm is a consumer brand of One97 Communications and its head office is in Noida
  • CEO of Paytm is Vijay Shekhar Sharma
  • CEO and Chairman of Softbank is Masayoshi Son and its headquarter is in Tokyo, Japan.
Source- The Economic Times

If you have any other takeaways, do share with us in the comment section

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