SAIF Partners and Elevation Capital have sold a combined 2.33% stake in Paytm’s parent company, One 97 Communications, raising Rs2,038 crore amid ongoing stock underperformance since its IPO in 2021.
Private equity investors SAIF Partners and Elevation Capital have pared back their holding in Paytm parent One 97 Communications, selling a combined 2.33% stake for Rs2,038 crore in open-market transactions, according to block deal data on the National Stock Exchange. The sale comes as the fintech group continues to trade well below the heights reached around its much-watched public debut.
SAIF Partners, through SAIF III Mauritius Company Ltd and SAIF Partners India IV Ltd, sold 13,879,743 shares, or 2.17% of the company, while Elevation Capital V Ltd disposed of 1,020,257 shares, representing 0.16%. The shares changed hands at an average price of Rs1,367.80 each. Domestic institutions, including the National Pension System Trust and several mutual funds, were among the buyers, alongside overseas firms such as Goldman Sachs Bank and Societe Generale.
The transaction pushed the total number of shares sold to 14.9 million. One 97 Communications closed nearly 1% lower at Rs1,400 on the NSE after the deal. It was not the first time SAIF Partners had reduced its exposure: in November 2025, it sold a 1.86% stake for Rs1,556 crore through open-market transactions.
Paytm’s shareholder register has been shaped by a series of large pre-listing and post-listing exits, a reminder of the scale of early venture and private equity backing behind one of India’s best-known digital payments groups. The company listed in November 2021 in one of India’s biggest initial public offerings, with selling shareholders including SAIF and Elevation, and its stock has since remained under pressure relative to its issue price.
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