On Aug 4, early investors in One97 Communications, the parent company of Paytm, will sell shares in a block deal worth up to Rs 2,021 crore. The transaction involves the sale of equity shares.
Saif Partners and Elevation Capital are the main selling parties. They plan to sell up to 1.49 crore shares, which represents about 2.3% of Paytm’s total equity.
Each share will be priced at a floor price of Rs 1,339.65. This price is roughly 5% lower than Monday’s closing price of Rs 1,410, offering a discount to buyers.
Morgan Stanley is the sole placement agent handling the sale. The deal is a pure secondary transaction, meaning One97 Communications will not receive any money from the shares being sold.
The selling shareholders are Saif Partners India IV, Saif III Mauritius Company, and Elevation Capital V. Prior to the deal, Saif Partners India IV held about 3.63% of Paytm, while Saif III Mauritius owned around 8.55%. Elevation Capital V’s stake was not disclosed.