SoftBank Group, a Japanese venture has reduced its ownership in Indian payments firm Paytm which was put into a trouble in recent days.

According to the exchange filing, SoftBank is selling a further 2 per cent stake. The Investment venture acquires just a 2.83 percent stake, down from 5.01 percent previously, which signifies a constant decrease in the stake of Soft bank that recorded 17.5 percent.

At this time, the Japanese venture publicized a 2 per cent stake reduction in the parent company of Paytm, One 97 Communications and setting the overall ownership to about 5 per cent.

This significant move of the taking back from the Under attack payment firm looks like Softbank is planning to exit from the Paytm.

The Global investors including Warren Buffett - Berkshire Hathaway & China - Alibaba Group departed their arrangements in Paytm in the year 2023. Also the Chinese fintech company Ant Financial, a Netherlands based unit also decreased their stakes from Paytm. Before the RBI’s regulatory inspection driven a turn-down in the shares of Paytm, Softbank sold much of its acquirements in the fintech company.

Since the RBI ordered the Paytm to cut down the financial division, the stock shares of the company has decreased by 48.5 percent which resulted a loss of about 23,400 crore.

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