Tuesday, Nov 18 — Shares of One97 Communications Ltd, the parent company of Paytm, saw a large block transaction in today’s session, with 1.32 crore shares, or 2.07% of the company’s outstanding equity, changing hands.
According to available data, the shares were traded at an average price of Rs 1,307 per share, taking the total deal value to Rs 1,722 crore.
Sources told CNBC-TV18 that Saif III Mauritius, SAIF Partners and Elevation Capital were likely sellers in today’s block deal, with up to 2% of Paytm’s equity lined up for sale. The floor price for the transaction was set at Rs 1,281 per share, a 3.9% discount to Monday’s closing price, and carries a 60-day lock-in before any further potential sale.
Based on the floor price and the number of shares expected to be sold, the transaction was initially estimated at around Rs 1,640 crore.
At the end of the September quarter, Saif III Mauritius held 10.76%, while Saif Partners India IV Ltd held 4.57% in Paytm.
Paytm shares have gained more than fourfold from their all-time lows near Rs 300 in 2024, though the stock remains below its IPO price of Rs 2,150.
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