Japan’s SoftBank will sell a third of its stake in One97 Communications Ltd, the owner of the Paytm payments app, through a $200 million block deal.

The shares are being offered to institutional investors at ₹555-601.45. At the lower end of the band, it is a 7.7% discount to the closing price of ₹601.3 on Wednesday. If completed, the sale will fetch SoftBank at least ₹1,628.9 crore or $200 million.

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