Mutual funds, foreign portfolio investors increase stake in Paytm
According to data released by BSE, mutual funds expanded their shareholding in the March quarter to 6.15% from 4.9% in December 2023. Mirae Mutual Fund and Nippon India Mutual Fund have acquired more shares in Paytm in these three months.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Product ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitAfter Softbank reduced its stake in Paytm by 5%, the overall foreign direct investment in the company fell to 1.4% in March 2024 from 6.46% in the December quarter.
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Portfolio investors increased their shareholding in Paytm by 2.49% by lapping up more than 15 million shares, the company said in a press release.
Paytm is yet to file its March quarter financials. In a separate exchange filing today, the payment company said that Surinder Chawla, the chief executive of its associate entity Paytm Payments Bank had resigned and will leave the company on June 26.
Paytm’s stocks closed at Rs 404.3 on the BSE down 1.95%. Overall BSE remained almost fla with a fall of 0.08%.
