Paytm shares rise after Rs 2,038 crore block deal

Paytm parent One 97 Communications shares rose in early trade after a Rs 2,038 crore block deal that saw early investors sell 1.49 crore shares, or 2.32% equity, at Rs 1,368 apiece. Likely sellers Saif Partners and Elevation Capital are trimming stakes in the secondary sale; the company receives no proceeds. Stock gained 0.71% to Rs 1,420, extending Monday's 4.99% rally, with Morgan Stanley as sole placement agent.