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The deal values Paytm Mall at roughly $2 billion (roughly Rs. 13,007 crores), Business Standard reports, and cites a regulatory filing to note that $400 million (roughly Rs. 2,600 crores) came from SB Investment Holdings and its affiliates, while about $45 million (roughly Rs. 290 crores) came from Alibaba.com Singapore E-commerce.

Earlier this month, Inc42 reported that Paytm Mall is in talks with SoftBank to raise $600 Mn at a valuation of $2 Bn.

In a separate statement, Paytm Mall chief operating officer Amit Sinha said the company would deploy the latest investment from SoftBank and Alibaba to beef up its technology and build superior logistics, among other things.

The funding will happen in four tranches, with the first tranche already been allotted to Paytm Mall, according to sources familiar with the matter.

The deal, which has been executed through a private placement offer, values Paytm Mall at over $2 billion.

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SoftBank, which now has an installed and under-construction solar capacity of 750 MW, itself sought very low tariffs in its last bids in May 2017, where it quoted 2.45 rupees per unit. Currently, they hold 57 per cent together, and it will go down to 46 per cent while SoftBank Vision Fund will hold 21 per cent.

"The SoftBank Group is excited to continue supporting Paytm as it develops into one of the leading internet ecosystems in the country".

Interestingly, SoftBank Vision Fund is also an investor in Paytm Mall rival, Flipkart where it had led a Dollars 2.5 billion financing round a year ago becoming one of the largest shareholders in the Bengaluru-based company. Paytm Mall exited FY18 at a gross merchandise volume (GMV) run rate of $3 billion.

Paytm Mall has replaced Snapdeal as the third largest player e-commerce company, behind Flipkart and Amazon India. This will be SoftBank's second investment in an online retailer in India.