Elevation Capital (previously SAIF Partners) sold a 1.86% stake in Paytm's parent company, One97 Communications, in a bulk deal valued at Rs 1,556 crore, resulting in a substantial ownership move.
Key Highlights
- Elevation Capital offloads 1.86% stake in Paytm via block deal worth ₹1,556 cr.
- Paytm shares drop 2% after the stake sale, block deal executed at ₹1,281 per share.
Data from the National Stock Exchange shows that Elevation Capital and a related company sold 1.19 crore equity shares at an average price of Rs 1,305 per.
According to regulatory documents, the share sale reduces Elevation's ownership stake in One97 from 15.33% to almost 13.47%. Even though the investment firm was among Paytm's first and most significant investors, this deal does not represent a complete withdrawal.
This occurs months after Alibaba's financial services division, Ant Group, sold nearly 4% of One97 Communications for Rs 2,103 crore, or roughly $246 million. At the same time, interest from domestic institutional investors has increased. Motilal Oswal now owns 5.15% of the fintech company situated in Noida.
This year has also witnessed changes in the regulatory landscape surrounding Paytm. The Reserve Bank of India granted its subsidiary Paytm Payments Services Ltd (PPSL) in-principle clearance in August to function as an online payment aggregator in accordance with the Payment and Settlement Systems Act, 2007.
Also Read: Paytm Partners with Groq to Power Ultra-fast AI Payments
In terms of finances, One97 recorded a profit of Rs 21 crore in Q2 FY26 and a 24% year-over-year increase in revenue to Rs 2,061 crore.
A larger change in the venture sector, where early-stage investors are increasingly liquidating legacy interests in unicorns, is highlighted by Elevation Capital's partial unload. Elevation Capital has been actively investing in deeptech, fintech, and business-to-business (B2B) in recent years, and this transaction may free up funds for new ventures in these areas.
