Elevation Capital and its affiliate Saif Partners are preparing to offload a combined stake worth up to ₹2,002 crore (approximately $210 million) in One 97 Communications, the parent company of India’s digital payments giant Paytm.
The sale will be executed through a block deal scheduled for Tuesday, involving the disposal of up to 14.9 million shares, which represents roughly 2.3% of the company’s outstanding equity.
The offer terms were reviewed by Livemint, which first reported the transaction details.
The offer terms were reviewed by Livemint, which first reported the transaction details.
The divestment comes at a pivotal moment for One 97 Communications, whose shares recently surged in early trading following a wave of target price upgrades from global brokerages.
These upgrades were triggered by the firm’s first-quarter fiscal 2027 results, which signaled improving fundamentals and operational momentum.
The timing of the stake sale suggests that early investors are capitalizing on the renewed market confidence and higher valuations to realize gains.