SoftBank's Kabir Misra appointed as director to Paytm board
Paytm’s parent firm One97 Communications has given a board seat to its investor Softbank by appointing Kabir Misra as a director on its board, according to the company's regulatory filings.
With this, Paytm’s marquee investors like Alibaba Group, Ant Financial (AliPay), SAIF Partners will all have a representation in the board.
Softbank had recently infused Rs 9,079 crore ($1.4 billion) in One97 Communications Ltd, which runs India’s leading digital wallet Paytm. It is also expected to invest 1932 crore rupees ($300 million) in online marketplace Paytm Mall so it is not surprise that Softbank was rewarded with a board seat.
An e-commerce veteran Kabir Mishra also serves as a Board member of another leading e-commerce firm Snapdeal. He was also instrumental in Softbank’s investments in Alibaba, Tokopedia and South Korean firm Coupang.
The One 97 communications board will now comprise of Vijay Shekhar Sharma, founder & CEO of One97, Ravi Adusumalli of SAIF, Jing Xiandong (Eric) of Ant Financial Services Group, Neeraj Arora, Amit Singhal, Mark Schwartz and Kabir Misra.
"Kabir Misra is hereby appointed as an additional director on the board with immediate effect to hold the office as director of the company till the ensuing annual general meeting of the company," the filing to the Corporate Affairs Ministry read.
Kabir Misra serves as the Chief Executive Officer and President of Softbank China & India Holdings. He assists SoftBank Corporation with numerous direct investments and other business development activities on the West Coast and globally.
Prior to joining SoftBank, he was an investment banker focused on the Internet and technology sectors.
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