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.
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 Elevation Capital likely sellers.
Why this matters
Continues the trend of early backers trimming Paytm exposure. Multiple reports confirm Saif and Elevation offloading 1.3% at a 3% discount, signaling staged exits despite bullish broker targets.
Retail-company signals steady at 901 over the past 90 days.