Mumbai
Funds associated with Elevation Capital are set to offload a significant stake in One 97 Communications Ltd, the parent company of Paytm, through a bulk share sale on the Indian stock exchanges.
Saif III Mauritius Company Ltd, Saif Partners India IV Ltd, will collectively sell up to 8.6 million shares, representing approximately 1.3 per cent of Paytm’s total outstanding stock. The two funds combined held a 13.43 per cent stake in the fintech as of March-end, according to exchange data.
The offer floor price has been fixed at ₹1,120.65 per share, reflecting a 2.99 per cent discount to Paytm’s closing price of ₹1,155.30 on the BSE as of May 21. The sale is expected to raise around ₹963.6 crore (approximately US$100 million).
Citigroup Global Markets India Private Ltd has been appointed as the placement agent for the transaction, which is scheduled to be executed on May 22, 2026.
The transaction will be entirely secondary, with no new issuance of shares. The sellers will be subject to a 30-day lock-up period on their residual holdings.
Buyers will incur brokerage charges of 25 basis points, in addition to standard market fees. Settlement is expected on May 25, 2026, one trading day after execution.
Paytm turned in a net profit of ₹552 crore for the full year FY26 compared to ₹663 crore loss year ago. The fintech, whose growth driver is the financial services arm, expects an acceleration of growth in the current fiscal year.
It also reported profit of ₹183 crore in the March quarter, compared to a loss year ago, though it fell around 19 per cent sequentially.