SoftBank's stake in Paytm slips below 1%
Paytm parent One 97 Communications has reported that domestic investors and mutual funds have upped their holding in the company, in the first quarter of FY25. Retail investors grew their stake by 1.3% in the quarter, while mutual funds upped their holding by 0.65%.
Japanese investor SoftBank has reduced its stake in , the fintech's parent One 97 Communications said in a filing on Friday.As per a press release, foreign direct investment (FDI) in the fintech declined by 2% to 37.7% and the shareholdings of SVF India Holdings (Cayman) Limited (SoftBank) slipped below 1%. This is against the 18% stake the investor held in the company during its initial public offering in 2021.
One 97 Communications reported an increase in shareholding by including and retail shareholders in the first of the current fiscal year.
Paytm said that increased their shareholding by 1.3% to 16.56%. Mutual funds increased their shareholding by 0.65% to 6.8%, because of shares purchased by Mirae Mutual Fund and Nippon India Mutual Fund.
Among individual investors, Akash Bhanshali expanded his shareholding to more than 1% this quarter.
In its filings to the stock exchanges, Paytm said shareholding of foreign portfolio investors’ (FPIs) stood at around 20.5%, down 0.16% sequentially. Amongst FPIs, Treeline and UBS Principal Capital Asia expanded their stake to more than 1% this quarter.
At a standalone level, Paytm closed FY24 with a total operational revenue of Rs 7,660 crore and net loss of Rs 1,476 crore.
Source: Stocks-Markets-Economic Times
