Alibaba-backed Paytm is in talks to raise around $1.5 billion from SoftBank Group

After speculations of SoftBank looking to secure a stake in Flipkart, it is turning to India’s leading digital payments giant Paytm. The Japanese giant is said to be planning to pump nearly $1.2-1.5 billion in cash into the heavily Alibaba-backed company. The deal could see Paytm’s valuation skyrocket to $7-9 billion, according to people aware of the matter.

It is being said that the deal has been in the works for nearly three months now. It will see SoftBank buying some shares from...

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