Elevation, SAIF Cut Paytm Stake Via Rs 1,722-Crore Block Deal

Overview

• About 1.32 crore shares, equal to 2.07% of equity, traded at Rs 1,307 each in a block deal worth roughly Rs 1,722 crore.
• SAIF Partners separately offloaded about 1.19 crore shares, or 1.86%, for Rs 1,556.02 crore, cutting its stake to 13.47%.
• Deal terms included a floor price of Rs 1,281 per share and a 60-day lock-up on further sales by these investors.
• Societe Generale purchased 32.44 lakh shares, about 0.51% of Paytm, in trades valued at roughly Rs 423.46 crore.
• Paytm shares eased after the transactions, closing 3% lower at Rs 1,292.90 on the NSE.