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SoftBank and Alibaba have invested over ₹1,500 crore into Paytm Mall, the e-commerce venture of fintech major Paytm.
This is part of the ₹2,900-crore investment both these investors had committed earlier.
SoftBank has invested ₹1,341.46 crore during the latest tranche, which is part of the total of ₹2,600 crore commitment.
Alibaba.com E-commerce Pvt Ltd has invested ₹167.68 crore, documents sourced from data intelligence platform, paper.vc said.
While SoftBank has been allotted 2,11,293 shares after this investment at a premium of ₹63,478, Alibaba has been allotted 26,412 shares at a premium of ₹63,477.
The entire investment put the valuation of the company closer to $2 billion.
With SoftBank agreeing to exit Flipkart by selling its stake to Walmart, investments into Paytm Mall indicates that it wants to stay invested in the Indian e-commerce story.
In another listing, Paytm’s parent One97 Communications Ltd has entered into a share swap agreement with Orbgen Technologies Pvt Ltd.
This is at a share swap ratio of 1:0.12 at an implied price of ₹10,560 per share. For every share of Orbgen, 0.2 shares of One97 will be issued.
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