Elevation Capital cuts stake in Noida-based Paytm via Rs 1,556 crore bulk deal

Paytm’s parent One97 Communications saw a major shareholder reshuffle this week after Elevation Capital sold a part of its long-held stake in the company.

The investment firm, earlier known as SAIF Partners, offloaded 1.19 crore shares in a bulk deal worth Rs 1,556 crore, according to data from the National Stock Exchange.

The shares were sold at an average price of Rs 1,305 each. Following the transaction, Elevation’s stake in Paytm dropped from 15.33% to about 13.47%.

This development comes a few months after Ant Group divested around 4% of its holding in One97 Communications for Rs 2,103 crore.

Domestic institutions have shown rising interest at the same time. Motilal Oswal has increased its shareholding to 5.15% in the Noida-based fintech company.

A CNBC TV18 report said SAIF III Mauritius, SAIF Partners and Elevation Capital together sold up to 2% of Paytm’s outstanding equity. The floor price for this transaction was set at Rs 1,281 per share, a 3.9% discount to the previous close. The total deal value was estimated at around Rs 1,640 crore. The selling entities will face a 60 day lock in before making any further sale.

As of the September quarter, SAIF III Mauritius held 10.76% of the company while SAIF Partners India IV Ltd owned 4.57%.

Paytm’s financial performance for Q2 FY26 showed mixed signals. Revenue rose 24% year on year to Rs 2,061 crore. Net profit dropped sharply to Rs 21 crore from Rs 928 crore a year earlier because of a one time impairment charge of Rs 190 crore related to its First Games Technology joint venture. Without this charge, PAT stood at Rs 211 crore.