Offers for sale by private equity (P/E) and venture capital (VC) firms have been significantly higher than fresh issuances of capital between 2018 and 2023. Sales by PEs and VCs amounted to around $26 billion compared with about $10.4 bn worth of capital issuances, according to an analysis by Kotak Institutional Equities (KIE). In 2023 so far, PEs and VCs have sold stock worth more than Rs 25,000 crore.
Moreover, sales of their holdings by promoters at Rs 87,000 crore or about $10 bn, has been the highest in the past six years. Of this the promoters of the Adani Group sold shares worth Rs 37,000 crore or about 40% of the total promoter selling in 2023.
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Japanese investment giant SoftBank Group Corporation has reportedly reduced its stake in the troubled Indian fintech unicorn Paytm by 2.17 percent, according to Reuters. The stake sale was disclosed in an exchange filing on February 29, revealing SoftBank’s ongoing reduction in ownership of the Indian payments startup.
Having held a 17.5 percent stake in Paytm in September 2022, SoftBank’s current ownership stands at 2.83 percent, down from 5.01 percent. This gradual reduction in stake has been occurring for over a year, with the most recent cut reported in January 2024.
In a BSE filing, One 97 Communications, the parent company of Paytm, stated, “SVF India Holdings (Cayman) Ltd has disposed of an aggregate of 13,784,787 equity shares of One 97 …