Indian investors increase stake in Paytm to 51.6%

Indian investors have expanded their ownership in One97 Communications, the parent company of digital payments service Paytm. According to recent data, the combined stake held by these investors has now reached 51.6 percent.

This shift in ownership is a result of increased buying activity from Indian mutual funds and institutional investors over recent months. This trend has led to their collective holdings forming a majority stake in the company, with domestic funds now being the largest shareholders.

Paytm is a prominent digital payments provider in India, offering services such as mobile payments, bill payments, and ticket bookings. The company has recently focused on reducing its reliance on foreign capital.

The increase in domestic ownership could provide a more stable financial foundation for the company and potentially mitigate future regulatory risks. One97 Communications' strategy moving forward involves strengthening local ownership and continuing its growth trajectory in India's rapidly digitizing market.