Shares of Paytm closed at an all-time low on Tuesday, a week after the post-IPO lockup period for early investors expired, amid competition risk from Reliance (Manish Singh/TechCrunch)

Reuters:
Sources: SoftBank sells 29.35M Paytm shares, or a 4.5% stake, for $200M, causing Paytm stock to drop 9%+; Vision Fund was Paytm’s second-largest shareholder  —  SoftBank Group Corp (9984.T) on Thursday sold a 4.5% stake in Indian digital payments giant Paytm (PAYT.NS) through block deals for $200 million …

Manish Singh / TechCrunch:
India’s Enforcement Directorate searched the offices of Paytm, Razorpay, and Cashfree on Friday as part of an investigation into fraudulent Chinese loan apps  —  India’s financial crime fighting agency searched the offices of fintech unicorns Paytm and Razorpay as well as Cashfree on Friday …

Manish Singh / TechCrunch:
Reliance, the parent firm of India’s largest mobile operator Jio, launches JioBook, a ~$190 4G-enabled laptop running a custom Android-based OS called JioOS  —  Jio Platforms has quietly launched its first laptop, entering into a new product category as the Indian telecom giant aggressively expands its offerings.

Manish Singh / TechCrunch:
Byju’s raised $250M in new funding as the market downturn delays its IPO; a source says the valuation was $22B, the same as when it raised $800M in March 2022  —  Byju’s said it has raised $250 million in new funding from existing backers as the Indian edtech giant looks to navigate …

Manish Singh / TechCrunch:
India’s market regulator tightens IPO disclosure norms after recent lackluster performance of tech startups; firms must disclose KPIs and past pricing details  —  India’s market regulator has tightened disclosure norms for firms looking to file for an initial public offering after lackluster performance …

Manish Singh / TechCrunch:
Indian B2B marketplace Udaan raised $120M in convertible notes and debt, taking its funding to $350M+ in the past year, and plans an IPO in 12-18 months  —  India’s Udaan has raised $120 million in convertible notes and debt led by existing shareholders and bondholders …