One97 Communications, owner of electronics payments provider Paytm, is set to raise more than Rs 12,000 crore ($1.87 billion) from Japan's SoftBank Group, the Economic Times reported on Friday citing sources.
The deal will value Noida-based One97 at about $9 billion and provide a 20 per cent stake to SoftBank, the report said.
SoftBank declined to comment. Paytm was not immediately reachable for comment.
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