SAIF Partners, Elevation Capital sells 2.3% stake in Paytm for Rs 2,038 Cr
A total of 1,49,00,000 shares representing a 2.33% stake of One 97 Communications were offloaded by both entities.
Private equity firms SAIF Partners and Elevation Capital have sold a combined 2.33% stake in Paytm-owner One 97 Communications for Rs 2,038 crore through open market transactions on the National Stock Exchange (NSE). SAIF Partners, through its affiliates, offloaded 1,38,79,743 shares representing a 2.17% stake, while Elevation Capital sold 10,20,257 shares, representing a 0.16% stake.
The shares were sold at an average price of Rs 1,367.80 each, bringing the deal size to Rs 2,038.02 crore. Domestic institutional investors, including various mutual funds and insurance companies, also purchased shares of the company.
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