“Paytm has raised $1.4 billion from SoftBank Group Corp. in the largest funding round by a single investor in India, making the digital payments firm the Japanese company’s biggest bet in India’s start-up ecosystem. The deal includes $400 million worth of shares that SoftBank will buy largely from Paytm’s early investor SAIF Partners in a secondary transaction, and a minor stake from founder Vijay Shekhar Sharma, according to two persons close to the development,” reported Mint.

Nishith Desai Associates (NDA) partner Pratibha Jain and associate Tanya Pawha acted for SoftBank.

Shardul Amarchand Mangaldas partners Raghubir Menon and Ekta Gupta and associates Aritra Roy and Srishti Maheshwari acted for One 97 Communications.

Trilegal partner Rohan Ghosh Roy acted for Alibaba and Alipay.