Early Paytm backer Elevation Capital part sells stake in fintech worth Rs 1,556 crore

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Venture Capital firm Elevation Capital, which was among the earliest backers of fintech platform rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm, has offloaded a nearly 2% stake in the company for Rs 1,556 crore, according to bulk deal data on the National Stock Exchange (NSE).

This is the first time Elevation Capital has sold rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm shares since the Noida-headquartered company’s initial public offering (IPO) in November 2021.

Prior to the sale, Elevation Capital — through two of its entities — held a little over 15% in rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm. It will continue to be the largest institutional shareholder…



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Early Paytm backer Elevation Capital part sells stake in fintech worth Rs 1,556 crore



Venture Capital firm Elevation Capital, which was among the earliest backers of fintech platform rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm, has offloaded a nearly 2% stake in the company for Rs 1,556 crore, according to bulk deal data on the National Stock Exchange (NSE).

This is the first time Elevation Capital has sold rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm shares since the Noida-headquartered company’s initial public offering (IPO) in November 2021.

Prior to the sale, Elevation Capital — through two of its entities — held a little over 15% in rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm. It will continue to be the largest institutional shareholder…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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