Summary
Elevation Capital, one of Paytm’s earliest and largest backers, is set to offload shares worth ₹1,640 crore in One97 Communications through a major block deal. The sale, involving nearly 1.28 crore shares, comes at a slight discount to the current market price and signals a strategic partial exit after Paytm’s recent stock rally. With Elevation Capital holding over 15% stake in the fintech giant, the deal is expected to influence short-term market sentiment, even as Paytm continues to show strong revenue growth but mixed profitability. The move reflects broader trends in India’s fintech sector, where early investors are increasingly monetising long-held positions amid regulatory shifts and evolving business models.
In a major move signalling changing tides in the fintech ecosystem, Mumbai-based venture capital firm Elevation Capital (formerly SAIF Partners India) is planning to offload shares worth approximately ₹1,640 crore in One97 Communications Ltd (the parent company of Paytm).
According to multiple sources, the proposed sale involves nearly 1.28 crore shares, representing close to a 2% equity stake in the company. The price for the block deal has been tentatively pegged at ₹1,281 per share, which is about a 4% discount to the company’s most recent closing price.
The Numbers and Context
Elevation Capital’s holdings in One97 Communications are not negligible. As of end-September 2025, the firm,
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