PAYTM

Shares of One97 Communications, the parent company of Paytm, are likely to remain in focus on August 4 as early investors plan to offload shares worth up to ₹2,021 crore through a block deal. According to a CNBC-TV18 report citing a term sheet, Saif Partners and Elevation Capital intend to sell up to 1.49 crore equity shares, representing around 2.3% of Paytm's outstanding equity. The shares are being offered at a floor price of ₹1,339.65 apiece, reflecting a discount of nearly 5% to the company's previous closing price of ₹1,410. Morgan Stanley is acting as the sole placement agent for the transaction. The proposed share sale is entirely secondary in nature, meaning One97 Communications will not receive any proceeds from the deal. The selling entities include Saif Partners India IV, Saif III Mauritius Company and Elevation Capital V. Prior to the proposed transaction, Saif Partners India IV held a 3.63% stake in Paytm, while Saif III Mauritius owned approximately 8.55%, according to the term sheet cited by CNBC-TV18. The shareholding of Elevation Capital V was not disclosed.