Domestic mutual funds increase stake in Paytm despite FIIs reducing stake in fintech company
One97 Communications, which owns payments and finance platform Paytm, completed its ₹850 crore share buyback earlier this month.
One97 Communications, which owns payments and finance platform Paytm, completed its ₹850 crore share buyback earlier this month.
On 13 February, the fintech company had informed the stock exchanges that it was buying back 15.57 million shares, corresponding to 2.4 percent of the total number of outstanding shares, at a weighted average price of ₹545.93 per share. Consequently, the percentage shareholding of continuing shareholders in the firm will rise on a pro rata basis, even if the absolute number of shares held by them remains the same.
On 13 February, the fintech company had informed the stock exchanges that it was buying back 15.57 million shares, corresponding to 2.4 percent of the total number of outstanding shares, at a weighted average price of ₹545.93 per share. Consequently, the percentage shareholding of continuing shareholders in the firm will rise on a pro rata basis, even if the absolute number of shares held by them remains the same.
Domestic institutional ownership has increased by 1.11 per cent probably due to an increase in share holdings in mutual funds and AIF. Verdipapirfond has increased its position since December 2022, on the back of strong results for the third quarter — from 1.73 percent to 2.68 percent.
Domestic institutional ownership has increased by 1.11 per cent probably due to an increase in share holdings in mutual funds and AIF. Verdipapirfond has increased its position since December 2022, on the back of strong results for the third quarter — from 1.73 percent to 2.68 percent.
On the other hand, foreign institutional ownership has reduced from 72.8 per cent to 71.9 per cent. FDI shareholding saw a reduction, FPI Cat 1 shareholding increased from 6.7 percent to 10.6 percent (a 3.9 percent increase).
On the other hand, foreign institutional ownership has reduced from 72.8 per cent to 71.9 per cent. FDI shareholding saw a reduction, FPI Cat 1 shareholding increased from 6.7 percent to 10.6 percent (a 3.9 percent increase).
According to the latest update, Alibaba has completely exited the fintech giant. The Chinese e-commerce company had a 6.26% stake in Paytm which it sold in two tranches in January and February this year.
According to the latest update, Alibaba has completely exited the fintech giant. The Chinese e-commerce company had a 6.26% stake in Paytm which it sold in two tranches in January and February this year.
As a result of the buyback, Jack Ma-backed Ant GroupAnt’s stake in Paytm has increased slightly from 24.86 percent as of December 31 to 25.47 percent now, although Ant continues to own 161.4 million shares in Paytm, the same number of shares as it. held before the buyback.
As a result of the buyback, Jack Ma-backed Ant GroupAnt’s stake in Paytm has increased slightly from 24.86 percent as of December 31 to 25.47 percent now, although Ant continues to own 161.4 million shares in Paytm, the same number of shares as it. held before the buyback.
As per the SEBI regulations, a period of 90 days from the date of completion of the buyback has been given to restore the shareholding below 25 per cent.
As per the SEBI regulations, a period of 90 days from the date of completion of the buyback has been given to restore the shareholding below 25 per cent.
Meanwhile, Paytm continues to be on a strong growth trajectory. In its recently announced Q3FY23 results, Paytm achieved its operating profitability milestone, well ahead of its September 2023 guidance.
Meanwhile, Paytm continues to be on a strong growth trajectory. In its recently announced Q3FY23 results, Paytm achieved its operating profitability milestone, well ahead of its September 2023 guidance.
The company’s EBITDA before ESOP cost was at ₹31 crore with EBITDA before ESOP margin at 2 percent of revenues compared to (27 percent) a year ago. The fintech giant’s operating income increased by 42 percent year-on-year ₹2,062 Cr, driven by growth in the core payments business and sustained growth in credit and merchant operations. (ANI)
The company’s EBITDA before ESOP cost was at ₹31 crore with EBITDA before ESOP margin at 2 percent of revenues compared to (27 percent) a year ago. The fintech giant’s operating income increased by 42 percent year-on-year ₹2,062 Cr, driven by growth in the core payments business and sustained growth in credit and merchant operations. (ANI)
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