One97 Communications: SAIF Partners Sells ₹1556 Crore Paytm Stake; Societe Generale Buys, Kaynes Technology Sees MF Stake Sale

Overview

Private equity firm SAIF Partners divested a 1.86 per cent stake in One97 Communications, the parent company of Paytm, for ₹1,556 crore. Following the sale, SAIF Partners' holding reduced to 13.47 per cent. In a separate transaction, Societe Generale purchased a 0.51 per cent stake in One97 Communications. Shares of One97 Communications saw a 3 per cent dip. Additionally, Motilal Oswal Mutual Fund sold 1.22 per cent in Kaynes Technology India for ₹490 crore, leading to a decline in Kaynes Technology shares.