The private equity firms SAIF Partners and Elevation Capital have sold a 2.33% stake in One 97 Communications (Paytm) through open market deals worth Rs 2,038.02 crore. The shares were offloaded at an average price of Rs 1,367.80 apiece.
SAIF Partners, through its two affiliates -- SAIF III Mauritius Company and SAIF Partners India IV, has sold around 1.39 crore shares, while Elevation Capital sold around 10.20 lakh shares of the company.
One 97 Communications (Paytm) is India's leading mobile payments and financial services distribution company. Pioneer of the mobile QR payments revolution in India, the company builds technologies that help small businesses with payments and commerce.