Why are Softbank directors planning to step down from Paytm and Policybazaar?

Nominees of the Softbank Group of Japan will step down from the boards of Paytm and Policybazaar. However, Softbank will continue to hold the stake. This is part of their uniform global strategy to exit boards of its listed portfolio companies. Listing brings its own regulatory constraints and this would leave them less regulatory issues to worry about. Both Paytm and Policybazaar listed late last year and saw deep price cuts since listing.