SAIF Partners Trims Paytm Stake Amid Market Moves; Societe Generale Buys In

SAIF Partners sold a 1.86% stake in One97 Communications, Paytm's parent, for Rs 1,556 crore, reducing their overall holding to 13.47%. Simultaneously, Societe Generale acquired a 0.51% stake. Meanwhile, Motilal Oswal Mutual Fund divested 1.22% of Kaynes Technology for Rs 490 crore, impacting share prices of both companies.

On Tuesday, SAIF Partners reduced their stake in One97 Communications, the parent company of Paytm, by 1.86%, translating to a Rs 1,556 crore transaction in the open market.

Post-transaction, SAIF Partners' holding in Paytm decreased to 13.47% from 15.33%, while Societe Generale acquired a 0.51% stake in the company, increasing the deal value to Rs 423.46 crore.

In another significant market move, Motilal Oswal Mutual Fund sold a 1.22% stake in Kaynes Technology India, amounting to Rs 490 crore, with both companies seeing declines in their share prices.

(With inputs from agencies.)