Shares of One97 Communications Ltd., the parent company of Paytm, are likely to remain in focus after early investor backers SAIF Partners and Elevation Capital decided to pare their holdings through a block deal worth around Rs 2,000 crore. The development confirms an NDTV Profit newsbreak, as the channel had reported on July 24 about the upcoming stake sale via the block deal route. According to sources, SAIF Partners and Elevation Capital will jointly sell 14.9 million shares, representing approximately 2.3% of Paytm's equity, through a block deal scheduled for August 4. The transaction is estimated to be worth around Rs 2,002 crore, making it one of the larger secondary share sales in the stock this year. Morgan Stanley is acting as the banker to the deal, sources said. ALSO READ: DLF Q1 Results: Revenue Halves But Profit Rises 4%; Margin Contracts Saif Partners owns 3.63% stake as of quarter ended June, while Saif III Mauritius Company owns 8.55% stake in the c...
Gujarat has scripted a new chapter in Indian sports, with a record nine athletes and one reserve player earning selection to represent India at the 20th Asian Games, scheduled to be held in Aichi-Nagoya, Japan, from September 19 to October 4. The achievement marks a remarkable rise for the state, which had only three representatives at the 2014 Asian Games. Twelve years later, Gujarat has tripled that number, underlining its emergence as one of India's fastest-growing sporting hubs Calling it a proud moment for the state, Gujarat Deputy Chief Minister Harsh Sanghavi said the achievement reflects the long-term investments made in sports development. "Former Chief Minister and now Prime Minister Shri Narendra Modi laid a strong foundation for sports in Gujarat through initiatives such as Khel Mahakumbh and the Shaktidoot Yojana. The results of those efforts are now visible. Gujarat is steadily emerging as a global sports powerhouse," Sanghavi said. The state's sport...