Citigroup, Sundaram Mutual Fund, and Others Acquire 1.3% Stake in Paytm for ₹964 Crores

Elevation Capital Sells 1.34% Stake in Paytm via Open Market Transactions

Elevation Capital, formerly known as SAIF Partners India, has sold a 1.34 percent equity stake in One 97 Communications, the promoter of digital payment app Paytm. The open market transactions took place on May 22, with Elevation Capital V and its entities, SAIF III Mauritius Company, and SAIF Partners India IV, selling a total of 85.98 lakh shares.

The sale of shares, equivalent to a 1.34 percent stake, resulted in the firm generating Rs 963.6 crore. This transaction is a significant move for the firm, which rebranded as Elevation Capital in October 2020. The stake sale is also notable as it comes after a period of significant growth in the firm's holdings in Paytm.

As of March 2026, SAIF Partners India IV held a 4 percent stake in Paytm's parent company, while SAIF III Mauritius Company held a 9.43 percent stake. The sale of shares was picked up by a total of 12 investors, with Societe Generale emerging as the largest buyer, purchasing 18.86 lakh shares for Rs 211.46 crore.

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Nippon Life India Trustee, through its Nippon India Growth Mid Cap Fund, already held a 1.49 percent stake in Paytm as of March 2026. The sale of shares by Elevation Capital resulted in a 1.66 percent decline in Paytm's shares, which closed at Rs 1,112.5 on the BSE.