A couple of fund houses were seen buying ONE 97 Communications Ltd (Paytm) shares with both hands in January, ahead of the Reserve Bank of India's restrictions on Paytm Payment Bank. Mutual funds owned Rs 3,384.08 crore of Paytm shares at the end of January, accounting for 7% of the company's market capitalization. According to PRIME Database's monthly data, they owned Rs 2,003.03 crore in Paytm shares as of the end of December.
The institutional group purchased Paytm shares worth Rs 936 crore in January, increasing its holding value by Rs 1,381.06 crore in the same month, according to PRIME Database. Paytm shares rose 19.79 percent in January before falling 56 percent in February due to RBI limitations on its Paytm Payment Bank.
According to PRIME Database's monthly report, Mirae Asset Mutual Fund owned Rs 1,614.40 crore in Paytm shares as of January 31, compared to Rs 1,010.61 crore on December 31, 2023. It upped its stake in Paytm by 53.04 lakh shares to 2,12,08,623 from 1,59,03,830 as of December 31. The net purchase totaled Rs 383.94 crore. Mirae's stake in Paytm was valued at Rs 1614.40 crore at the end of January.
Nippon India Mutual Fund increased its Paytm exposure by 42.45 shares. It owned Paytm shares worth Rs 828.26 crore in January, up from Rs 421.68 crore in December, an increase of 406.58 crore month on month. According to PRIME Database, it bought a net of Rs 307.24 crore in Paytm shares.
Motilal Oswal Mutual Fund has upped its holding in Paytm by 29.21 lakh shares. In January, it owned Paytm shares worth Rs 279.79 crore, up from Rs 47.95 crore in December, an increase of 231.85 crore month on month. It bought a net of Rs 211.42 crore in Paytm shares.
UTI Mutual Fund (net buy: Rs 136 crore) and Franklin Templeton Mutual Fund (net buy: Rs 53 crore) were two additional Paytm investors in January. UTI had Rs 175.30 crore in Paytm shares, while Franklin Templeton MF owned Rs 73.71 crore as of January 31.
Meanwhile, in January, QUANT Mutual Fund sold Paytm shares worth Rs 116.67 crore net.
