Shares of One 97 Communications, the parent company of Paytm, gained more than 1% in early trade on Thursday, August 6, despite a significant reduction in holdings by early investor Elevation Capital.
The Mauritius-based fund and its affiliated entities pared their stakes through a block deal valued at over ₹2,038 crore.
The National Pension System (NPS) Trust emerged as the largest buyer in the transaction, acquiring 30.2 lakh shares.
The institutional absorption of the block deal appears to have stabilized sentiment, allowing the stock to post gains rather than succumbing to the selling pressure from the foreign institutional investor.
The trade follows a period of mixed signals for the fintech lender.
Shares of One 97 Communications failed to sustain early momentum on Tuesday, even after the company reported a significant improvement in profitability for the first quarter of fiscal 2027.