[Update] Elevation Capital Offloads Paytm Shares Worth INR 1,556 Cr

Updated | November 19, 13:15 IST

Elevation Capital sold fintech major Paytm’s 1.19 Cr shares via two block deals yesterday for a total of INR 1,556 Cr.

While it offloaded 83.70 Lakh shares for INR 1,305 apiece, the investor sold 35.53 Lakh shares at the same place in another transaction.

Of the offloaded shares, Societe Generale bought 32.45 Lakh shares. 

Elevation Capital held over 15% stake in Paytm at the end of the September quarter. Following the share sale, it owns 8.59 Cr shares of the company. 

At 13:15 IST, shares of Paytm were trading 0.39% lower at INR 1290.20 on the BSE. 

Original | November 18, 00:45 IST

Venture capital (VC) firm Elevation Capital, formerly SAIF Partners India, reportedly plans to sell shares worth INR 1,640 Cr in fintech major Paytm via multiple block deals later today. 

Sources told NDTV Profit that the VC firm will offload nearly 1.28 Cr shares, or nearly 2% equity stake in the company, at INR 1,281 apiece. This represents a discount of nearly 4% from the stock’s last closing price on the BSE.

As per BSE data, Elevation Capital owned more than 15% stake in the fintech major via two affiliate funds at the end of September 2025, pegged cumulatively at more than INR 13,000 Cr. With this, the VC firm would be looking to book profits amid an uptick in Paytm shares. 

Shares of the fintech giant have rallied nearly 16% in the past three months, and are trading higher at more than 31% on a year-to-date (YTD) basis. This jump has come largely on the back of growing revenues and profitable show. 

On the financial front, Paytm profit after tax (PAT) declined 98% to INR 21 Cr in the second quarter (Q2) of the fiscal year 2025-26 (FY26) compared to INR 930 Cr in the year-ago quarter. The bottom line narrowed largely on the back of a one-time impairment loss of INR 190 Cr against a loan given to its now-shut real money gaming joint venture First Games.

However, operating revenue surged 24% year-on-year (YoY) and 7% sequentially to INR 2,061 Cr in Q2 FY26. 

The stake sale also comes amid Paytm’s renewed focus on the digital payments vertical following RBI’s crackdown on its payments bank arm in 2024. As a result, the company either sold off other businesses or shut down these offerings.

The company’s board also recently approved an additional investment of INR 2,250 Cr in its payments arm, Paytm Payments Services Limited (PPSL). Alongside, the company also rolled out a new feature that allows non-resident Indians (NRIs) to use their international mobile numbers to make UPI payments on its app.

In addition, the fintech major has also been working on simplifying its group structure to consolidate operations, reduce redundancies, and improve regulatory compliance across its multiple business verticals. It is also leveraging AI to cut costs and boost automation.

Shares of Paytm closed yesterday’s trading session 2.6% higher at INR 1333.55 on the BSE.