May 27, 2024 07:05 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Man-made disaster': Gujarat High Court takes suo motu cognizance of Rajkot gaming zone fire that killed 27 people | Payal Kapadia's Indian film All We Imagine As Light wins Grand Prix Award at Cannes | 'Was told to take the blame': Pune Porsche teen's grandfather told driver to take responsibility for crash | 24 killed in gaming zone fire in Gujarat’s Rajkot; PM Modi expresses grief | INDIA bloc performing mujra for vote bank, says Prime Minister Narendra Modi launching a scathing attack on opposition parties
Mutual Funds, foreign portfolio investors increase stake in Paytm
Photo courtesy: UNI

Mutual Funds, foreign portfolio investors increase stake in Paytm

| @indiablooms | 10 Apr 2024, 01:34 am

Mumbai: One 97 Communications reported an uptick in ownership from mutual funds, retail investors, and foreign portfolio investors up to the end of the March quarter of 2024, media reported citing a stock exchange filing on Tuesday.

As per BSE data, mutual funds increased their ownership from 4.9% in December 2023 to 6.15% in the March quarter. Mirae Mutual Fund and Nippon India Mutual Fund were among those acquiring more shares in Paytm during this period, reported the Economic Times.

Following Softbank's reduction of its stake in Paytm by 5%, the overall foreign direct investment in the company dropped to 1.4% in March 2024 from 6.46% in the December quarter, the report said.

According to a company press release, portfolio investors boosted their ownership in Paytm by 2.49%, obtaining over 15 million shares said.

Paytm has yet to submit its financials for the March quarter.

On Tuesday, in a separate exchange filing today, Paytm reported the resignation of Surinder Chawla, the chief executive of its associate entity Paytm Payments Bank, who will leave the company on June 26.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.