FPIs and Mutual Funds increase their shareholding stakes in Paytm

Foreign portfolio investors and mutual funds increased their stake in Paytm’s parent firm One97 Communications. According to the revised format, the mutual funds have increased their bets in shareholding from 1.14 per cent to 1.26 per cent, the foreign portfolio investors have increased from 5.45 per cent to 5.77 per cent.
 
The remaining pattern remains unchanged except for a slight decrease in retail shareholding, the company shared in a release. 
 
“Top global and domestic brokerages including Goldman Sachs, Citi, JP Morgan and ICICI Securities have given a thumbs up to Paytm's strong business model and profitability plan,” the statement read.
 
While it is yet to release its Q2 financials, the Vijay Shekhar Sharma led fintech company released some updates a few weeks ago. 
 
Paytm’s loans distribution business saw its annualised run rate touch Rs 34,000 crore in the month of September. The NSE-listed firm also reported a 224 per cent increase in the number of loans disbursed which touched 9.2 million in the quarter that ended on September 30, 2022. 
 
The company also pointed out a 39 per cent increase (year-on-year) in the monthly transacting users which stood at 79.7 million for the second quarter of this year. Additionally, the gross merchandise value, or the merchant payment values, were reported to be Rs 3.18 lakh crore for this quarter. 
 
Meanwhile, shares of Paytm rose up to 2.93 per cent to reach Rs 653.90 yesterday against the previous close of Rs 637.45 on BSE. Market capitalisation stood at Rs 42576.91 crore.