Early investors look to sell Paytm shares worth $110 million via block deal

Mumbai: Early investors in One 97 Communications, the parent company of fintech giant Paytm, are looking to offload their shares worth around $110 million through a block deal on Friday, according to a term sheet reviewed by . Mint.

The sellers are Saif III Mauritius Company Limited, Saif Partners India IV Limited and Elevation Capital V Limited.

The proposed transaction involves the sale of up to 8.6 million shares, representing approximately 1.3% of Paytm’s outstanding share capital.

Base price has been determined ₹1,120.65 per share, a discount of around 2.99% to Thursday’s closing price on BSE. ₹1,155.30.

At the base price, the total transaction size is estimated at approx. ₹963.6 crore (about $110 million).

Citigroup Global Markets India Pvt. Ltd. is acting as the placement agent for the deal.

Existing investors will receive income

Proceeds from the deal, which is secondary in nature, will go entirely to existing investors and not to the company.

The term sheet also states a 30-day lock-in period for shares remaining in sellers’ hands after the transaction.

The books on the deal are expected to close around 7:30 a.m. on May 22; The trade is scheduled to occur the same day and settlement is expected to occur on May 25.

The proposed sale marks another step in the gradual departure of Paytm’s early backers, years after the company’s blockbuster but erratic launch in 2021.

Chinese subsidiary Antfin, once Paytm’s largest shareholder, has steadily reduced its stake over the past two years amid increased regulatory scrutiny of Chinese ownership in Chinese fintech companies.

Antfin transferred a 10.3% stake to its founder, Vijay Shekhar Sharma, in 2023, helping to bring its shares below the 10% threshold. In May 2025, it sold a further 4% stake via a block deal worth $246 million.

Regulatory concerns regarding Paytm Payments Bank and delays in obtaining key licenses had previously weighed heavily on the stock.

However, sentiment rose sharply last year after Paytm returned to profitability and rebuilt its payments business following the RBI crackdown on its banking arm.