Motilal Oswal MF hikes stake in Paytm parent One 97 Communications to over 5%
Motilal Oswal Mutual Fund has raised its stake to over 5% through fresh share purchases in the open market, a move that comes as multiple schemes under the fund collectively acquired more than 26 lakh shares of the fintech firm.
Motilal Oswal Mutual Fund has acquired additional shares in One 97 Communications, the parent company of fintech firm Paytm, raising its total shareholding to over 5%.
According to a regulatory filing on Tuesday, various schemes of Motilal Oswal Mutual Fund acquired 26,31,244 shares of One 97 Communications through open market transactions on August 11, 2024.
This adds a 0.41% stake in Motilal Oswal MF's holding in Paytm. The filing did not disclose the valuation of the transaction.
Following the transaction, the total shareholding of Motilal Oswal Mutual Fund in the Noida-based digital payments firm has increased from 3,02,80,155 shares (4.74%) to 3,29,11,399 shares, which corresponds to a 5.15% stake.
The shares were acquired by over 20 schemes, including the Motilal Oswal Midcap Fund, Flexi Cap Fund, ELSS Tax Saver Fund, and various ETF schemes, the filing noted.
As per the filing, the total voting capital of One 97 Communications stands at 63,81,02,551 shares.
Shares of One 97 Communications Ltd settled 4.58 per cent higher at Rs 1,227.30 apiece on the BSE on Tuesday.