Elevation Capital, one of India's oldest venture capital firms, has realised nearly Rs 6,000 crore from partial stake sales in listed Indian technology companies over the past 15 months through IPO offer for sale transactions, block deals and bulk deals, while continuing to hold listed startup investments worth more than Rs 20,000 crore (over $2 billion) acrossMeesho, Paytm and Urban Company. The latest stake sale came on Tuesday, when Elevation Capital sold shares worth Rs 974.5 crore inMeeshothrough a block deal by offloading 1.49 crore shares. The transaction followed another major stake sale earlier this week, when Elevation Capital, through its investment entities, sold a 2.33% stake inPaytmin a block deal worth Rs 2,038 crore by offloading 1.49 crore shares at Rs 1,367.8 apiece. These transactions are part of a series of partial stake sales over the past 15 months. In November 2025, Elevation sold shares worth Rs 1,556 crore in Paytm. It also pared its holding inixigothrough four transactions between May and October 2025, realising around Rs 808 crore. Apart from secondary market stake sales, the firm also monetised part of its investments through IPO offer for sale transactions, selling shares worth Rs 271 crore in Meesho's public issue and Rs 346 crore inUrban Company's IPO. Overall, Elevation Capital has realised nearly Rs 5,993 crore through partial stake sales in Indian technology companies over the past 15 months via IPO offer for sale transactions, block deals and bulk deals. The transactions illustrate how venture capital firms monetise mature investments during IPOs and through secondary market transactions after listing. Despite these partial stake sales, the firm continues to hold sizeable stakes in several listed startups. Following the latest block deal, Elevation's remaining stake in Meesho is valued at around Rs 9,550 crore (over $1 billion) at the prevailing market price. It also holds a stake worth around Rs 9,015 crore (about $950 million) in Paytm throughSAIF III Mauritius and SAIF Partners India IV, while its holding in Urban Company is valued at approximately Rs 1,793 crore (about $189 million). The remaining stake values are based on prevailing market prices following Tuesday's block deal. Queries sent to Elevation Capital on Wednesday did not receive a response until the publication of this story. The sizeable residual portfolio underscores that despite selective stake sales, Elevation Capital remains among the largest institutional shareholders in several listed new-age technology companies. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
