Elevation Capital, one of India’s longstanding venture capital firms, has realised close to Rs 6,000 crore from selective stake sales in publicly listed Indian tech companies over the last 15 months. This has been achieved through IPO offer for sale transactions, block deals, and bulk deals, while still retaining startup investments valued at over Rs 20,000 crore (more than $2 billion) across platforms like Meesho, Paytm, and Urban Company.
The most recent stake sale occurred on Tuesday, where Elevation Capital divested shares worth Rs 974.5 crore in Meesho through a block deal involving 1.49 crore shares. This transaction followed a significant earlier sale in the week, where Elevation Capital, via its investment entities, offloaded a 2.33% stake in Paytm for Rs 2,038 crore by selling 1.49 crore shares at a price of Rs 1,367.8 each.
These ventures are part of a series of partial stake sales taking place over the past 15 months. In November 2025, Elevation sold shares valued at Rs 1,556 crore in Paytm. Additionally, it reduced its position in ixigo through four transactions between May and October 2025, garnering around Rs 808 crore.
Aside from secondary market transactions, the firm also focused on monetising its investments with IPO offer for sale transactions, selling shares worth Rs 271 crore in Meesho’s public offering and Rs 346 crore during Urban Company’s IPO.
Overall, Elevation Capital has successfully realised roughly Rs 5,993 crore through selective stake sales in Indian technology firms over the past 15 months via various methods like IPO offer for sale transactions, block deals, and bulk deals. These activities highlight how venture capital firms monetise mature investments during initial public offerings and through secondary market dealings after listings.
Despite these stake sales, the firm continues to retain significant holdings in a number of listed startups. Following the latest block deal, Elevation’s remaining stake in Meesho is estimated to be valued at about Rs 9,550 crore (over $1 billion) based on current market conditions. The firm also holds a stake worth around Rs 9,015 crore (approximately $950 million) in Paytm through SAIF III Mauritius and SAIF Partners India IV, while its investment in Urban Company is valued at about Rs 1,793 crore (around $189 million). The valuations of these stakes are determined by current market prices subsequent to Tuesday’s block deal.
Queries directed to Elevation Capital on Wednesday did not receive a response by the time this article was published. The substantial residual portfolio indicates that, despite selective stake sales, Elevation Capital continues to be one of the largest institutional shareholders in several new-age technology companies listed on the market.