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