Alibaba, who already holds a stake in Paytm E-Commerce, is also investing USD 45 million in the round, the filing showed.
SoftBank, which is among major investors in Indias fast-growing e-commerce sector and already owns a stake in Paytms parent, confirmed investing in Paytm Mall, the brand name under which Paytm E-Commerce operates an online marketplace.
A filing with Indias Registrar of Companies showed SoftBank units will get a 21.1% stake in Paytm E-Commerce after the investment, which would come in four tranches.
Alibaba.Com Singapore E-Commerce, which currently owns 36.3% of the Indian e-retailer, will remain the single largest shareholder of Paytm E-Commerce but with a relatively smaller stake of just over 30% after its latest investment is completed, in four tranches.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now