Elevation plans twin stake sales in Paytm, Meesho after June-quarter earnings
Mumbai, Aug. 3 -- Elevation Capital is set to offload shares worth up to Rs.2,002 crore (about $210 million) in Paytm parent One 97 Communications Ltd through a block deal on Tuesday, according to the offer terms reviewed by Mint,
The venture capital firm will also offer shares in Meesho Ltd, along with Peak XV Partners, worth a combined Rs.1,912 crore (about $201 million) through a separate block deal on the same day, according to a separate term sheet reviewed by Mint.
Morgan Stanley India is serving as the placement agent for both deals.
Elevation's stake sale in Paytm comes days after the company dropped plans for a proposed bonus share issue.
Saif Partners India IV Ltd, Saif III Mauritius Co. Ltd, and Elevation Capital V Ltd, lis...
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