Paytm slips 3% on ₹964 crore block deal; Saif, Elevation likely paring stake
One 97 Communications shares fell ~2.99% as 86 lakh shares (1.3% stake) changed hands in a ₹964 crore block deal at a floor price of ₹1,120.65. Early backers Saif Partners and Elevation Capital are likely sellers, with Citi, JM Financial and MOFSL managing the trade. Brokerage targets remain ₹1,300–₹1,490.
What happened
Paytm parent One 97 Communications shares fell ~3% as a ₹964 crore block deal of 86 lakh shares (1.3% stake) is expected at ₹1,120.65 floor price, with Saif and
Key facts
- ₹964 crore
- $100 million
- 86 lakh shares
- 1.3% stake
- floor price ₹1,120.65
- down 2.99%
- revenue growth 18% YoY
- target ₹1,490
- target ₹1,300
Why this matters
Citi/JM/MOFSL-led ₹964 cr clean-up of legacy VC stakes improves register quality and sets a public clearing price for any future primary or strategic block, useful as a benchmark in M&A or partnership talks.