Shares of India's Paytm slide as SoftBank looks to sell stake worth $200m

Shares of India's Paytm slide as SoftBank looks to sell stake worth $200m

FILE PHOTO: A Paytm QR code is seen at a grocery shop in Mumbai, India, November 10, 2021. REUTERS/Niharika Kulkarni

Shares of the already-battered Paytm dropped around 10% in morning trade on the Indian bourses on Thursday, following reports that Japanese conglomerate SoftBank Group is looking to sell shares worth $200 million.

The one-year lock-in period for investors in the fintech firm, which listed on November 18 2021, will soon end.

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