A source familiar with the matter said SoftBank had bought US$1bil (RM4.32bil) of new shares in Paytm parent One97 Communications, equivalent to a 14.2% stake, and a further US$400mil (RM1.7bil) of existing shares.
The latest round of funding is not only the biggest ever for Paytm's parent One97 Communications but also matches the amount raised by Flipkart last month.
The company said that it would introduce the Paytm Payments Bank, a mobile-first product that will reach every corner of the nation, and focus on the millions of unserved and under-served Indians.
Paytm plans to invest about around Rs 10,000 crore over the next three to five years towards enabling half-a-billion Indians to join the mainstream economy.
The investment comes at a time when SoftBank is working on a sale plan of e-commerce firm Snapdeal. These fundings will help Paytm expand fast it's soon to be launched payments bank operation. The deal involves $400 million worth of shares that Softbank will buy from Paytm's early investor SAIF Partners in a secondary transaction, and a minor stake from founder Vijay Shekhar Sharma, an official close to the development informed. "We believe we have a great opportunity to bring financial inclusion to half a billion Indians,". There has also been a significant uptake in its movie ticketing, and travel booking (rail, bus and flight tickets) businesses.
In January 2014, it launched the Paytm Wallet, which has emerged as India's biggest digital wallet with over 220 million users and is accepted as the preferred mode of payment by over 5 million offline merchants across India. Even as SoftBank backs Paytm, the Masayoshi Son- led internet and telecoms conglomerate, which has ploughed around $2 billion in the country over the past few years across startups like Ola, Grofers and Oyo Rooms, is finalising a deal to sell its once-prized portfolio company e-commerce marketplace Snapdeal to Flipkart in a cut-price deal.
In August past year, Paytm raised a funding of $60m from MediaTek which took its valuation to about $5bn. The Alibaba group holds 40% in the company while Mediatek has about 1% with the rest being held by employees of the company. One of the biggest gainers of that demonetization was a start-up called Paytm, who via persistent advertising were already gaining popularity as a cashless app or mobile wallet in the Indian market.
Although Clark and Weaver have a history of working together, Weaver and Horgan's voters may have more in common. Horgan said he also looks forward to a final result by May 22, with thousands of votes still to be counted.
The Russian president added that while Russian organizations were attacked by the malware, no serious damage was caused. Several security experts warned that the virus was likely to wreak more havoc over the next few weeks.
Yasin Malik challenged the Indian media to prove whether he has bought any property in the name of freedom movement. When Yasin Malik asked about her coming without an appointment, she told him that they can wait outside.
Trade issues are likely to be taken up at a G-7 leaders' summit on May 26 to 27 in Taormina, Sicily, that Trump will attend. The group's agreements aren't legally binding; instead, they represent the leaders' political commitment to follow through.
It is not an easy thing to match a better player in the absence of Stoke. "It has been helping me personally as well". Because the RPS surge up in the top four place in the IPL 2017 points table with his batting and bowling ability.
The requests by US intelligence officials cast doubt on the assertion by the president's aides that the sharing was appropriate. Russian President Vladimir Putin also dismissed suggestions anything in the conversation was classified.
Or like Animal Kingdom in 2011. "Historically, I think the horses that have run well in the Derby run back well in the Preakness". Always Dreaming will attempt to be the fourth Kentucky Derby victor in the last six years to finish first in the Preakness.
My assessment is the transfer can not be carried out in a foreseeable future". "The European Arrest Warrant no longer holds". Ny told a news conference in Stockholm: "He has tried to dodge all attempts to avoid Swedish and British legal authorities.
Rosenstein has done the right thing", Senate Minority Leader Chuck Schumer of NY said Thursday on the Senate floor. Trump continued to assert that there was "no collusion", between his campaign and Russian Federation .
Perhaps we shouldn't be surprised that Gibson is getting better as the pressure mounts. "We're a confident team", Josi said. The Predators insist they can play that game too - and keep their cool no matter what pesky Ducks center Ryan Kesler does.
Kejriwal has repeatedly claimed that the AAP's poll debacles have something to do with tampering of EVMs. The party alleged that the Commission was in denial mode over the credibility of the voting machines.
The 1998 impeachment of Bill Clinton, which led to a failed removal vote in the Senate, left Democrats with bitter memories. Mueller will have the ability to hire a staff and request a budget from the Department of Justice.
Federal Budget 2017: Winners and losers
In a surprise move, the Turnbull Government will bring back a trial on drug testing welfare recipients. The extra funding will be paid for by a $2.8 billion hit to universities over the next two years.
Crude Prices Higher on US Stocks Draw
Oil cartel OPEC are due to meet later this month, which could see an agreement to sustain oil cuts to help raise falling prices. A third Asian refiner is getting contracted volumes for June, steady from the previous month, a separate industry source said.
Trump tells Russians Comey was a 'nut job'
Mr Lieberman was among four candidates Mr Trump interviewed at the White House on Wednesday. Walter Jones (R-N.C.) told The Hill , potentially voicing the concerns of other members.