Elevation trims Paytm stake via Rs 1,556 Cr bulk deal

Paytm’s parent One97 Communications witnessed a significant shareholder shift this week as Elevation Capital (formerly SAIF Partners) offloaded a 1.86% stake in the fintech major through a bulk deal worth Rs 1,556 crore. 

According to data available on the National Stock Exchange, Elevation Capital and an affiliated entity together sold 1.19 crore equity shares at an average price of Rs 1,305 per share.

The share sale trims Elevation’s ownership in One97 from 15.33% to nearly 13.47%, as per regulatory disclosures. While the investment firm has…