Private equity firms SAIF Partners and Elevation Capital on Tuesday divested a combined 2.33% stake in Paytm-owner One 97 Communications for Rs 2,038 crore through open market transactions.
A total of 1,49,00,000 shares representing a 2.33% stake of One 97 Communications were offloaded by both entities, as per the block deal data on the National Stock Exchange (NSE).
Hong Kong-based SAIF Partners through its two affiliates, SAIF III Mauritius Company Ltd and SAIF Partners India IV Ltd, offloaded 1,38,79,743 shares or 2.17% stake in Paytm.
In addition, Elevation Capital through its arm Elevation Capital V Ltd sold 10,20,257 shares representing a 0.16% stake in the full stack financial services company.
The shares were disposed of at an average price of Rs 1,367.80 apiece, taking the deal size to Rs 2,038.02 crore.
