Saif, Elevation pare Paytm stake in Rs 964 crore block deal at 2.99% discount
Paytm shares fell 3% to Rs 1,125.20 on heavy turnover as early backers Saif Partners and Elevation Capital reportedly offloaded 86 lakh shares (1.3% equity) worth Rs 963.6 crore. Citigroup acted as placement agent at a floor of Rs 1,120.65, a 2.99% discount to the prior close.
What happened
Paytm shares fell 3% on heavy turnover as Saif and Elevation Capital reportedly offloaded 86 lakh shares (1.3% equity) worth Rs 963.6 crore via block deal at
Key facts
- 3% drop
- Rs 1,125.20
- 86 lakh shares
- 1.3% equity
- Rs 963.60 crore
- $100 million
- floor Rs 1,120.65
- 2.99% discount
- Mar27 target Rs 1,490
Why this matters
With marquee VCs unwinding via Citi-led blocks, expect cleaner cap table optics that could ease future strategic partnership and M&A conversations.