SoftBank, Alibaba back Paytm Mall

BENGALURU: Paytm Mall has received an infusion of about $200 million (Rs 1,340 crore) from SoftBank and $25 million (Rs 168 crore) from Alibaba, the company said in a filing with the Registrar of Companies on Tuesday.
Sources said that Softbank’s managing partner Kabir Mishra will be appointed as director in Paytm Mall.
SoftBank’s infusion is the latest tranche of the $400-million investment in Paytm Mall it announced in April to bring its stake to 21%.The filing on Tuesday said Paytm Mall had allotted 211,293 shares at an issue price of $946.55 to SB Investment Holdings (UK) and 26,412 shares to Alibaba.com Singapore E-Commerce. Soft-Bank plans to invest as much as $3 billion in the company.