Mumbai – Elevation Capital’s associated funds plan to divest a considerable stake in One 97 Communications Ltd, the parent company of Paytm, through a large share sale on Indian stock exchanges.
Saif III Mauritius Company Ltd and Saif Partners India IV Ltd will together sell up to 8.6 million shares, accounting for approximately 1.3 percent of Paytm’s total outstanding shares. As of the end of March, these two funds held a combined stake of 13.43 percent in the fintech company, per exchange data.
The offer floor price has been set at ₹1,120.65 per share, which reflects a 2.99 percent discount to Paytm’s closing price of ₹1,155.30 on the Bombay Stock Exchange as of May 21. The sale is projected to generate approximately ₹963.6 crore (around US$100 million).
Citigroup Global Markets India Private Ltd has been appointed as the placement agent for this transaction, scheduled for execution on May 22, 2026. The sale will consist entirely of secondary shares, with no new shares being issued. Sellers will be subject to a 30-day lock-up period on any remaining holdings post-sale.
Buyers will also incur brokerage fees of 25 basis points, in addition to standard market charges. Settlement is anticipated on May 25, 2026, one trading day following the execution of the sale.
In FY26, Paytm reported a net profit of ₹552 crore, a turnaround from a net loss of ₹663 crore in the previous year. The company attributes its growth mainly to its financial services division and anticipates further growth acceleration in the current fiscal year. In the March quarter alone, Paytm recorded a profit of ₹183 crore compared to a loss in the same period last year, although this figure fell approximately 19 percent sequentially.
Published on May 21, 2026







