Elevation Capital sells Paytm shares worth Rs 964 crore in block deal
24 May 2026, 01:58 PMGoldman Sachs, Societe Generale, and Citigroup Global Markets were major participants in the block deal, collectively acquiring a 1.34% stake in Paytm.
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Venture Capital firm SAIF Partners (now known as Elevation Capital), through its affiliate entities, offloaded shares worth about Rs 964 crore in Paytm. SAIF is one of the earliest investors in the Noida-headquartered payments giant.
According to BSE data, SAIF III Mauritius Company Ltd and SAIF Partners India IV Ltd sold a combined 80.08 lakh shares of Paytm. And, Elevation Capital also disposed of 5.89 lakh shares in the fintech company in a block deal.
Following the transaction, SAIF Partners' holding in One 97 Communications declined to 12.18% from 13.43%.
Goldman Sachs, Societe Generale, and Citigroup Global Markets were major participants in the block deal, collectively acquiring a 1.34% stake in Paytm at an average price of Rs 1,120.65 apiece.
Other buyers, included Ghisallo Capital Management, Viridian Asia Opportunities Master Fund, Nippon India Mutual Fund, BNP Paribas, Copthall Mauritius Investment, Edelweiss Mutual Fund, Sundaram Mutual Fund, and India Acorn ICAV.
Last month, Paytm became a majority Indian-owned company as foreign institutional investors reduced their holding to 49.4% as of March 2026 from 72.11% stake in June 2023, while domestic institutional investors significantly raised their stake during the same period.
For the full fiscal year FY26, Paytm's revenue increased 22% to Rs 8,437 crore from Rs 6,900 crore in FY25, while the company achieved full-year profitability with a profit of Rs 552 crore.
In April, the Reserve Bank of India (RBI) cancelled Paytm's payments bank license. The Head and Tale wrote an analysis on how the RBI's order was expected but its stern language wasn't. (Click here to read).
Paytm's market cap as on Friday stood at Rs 70,968 crore ($7.4 billion).
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