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Six Mutual Funds Fully Exit Paytm Stock, Six Reduce Stake Sharply In February

Inc42 · 1y

Paytm, the Indian fintech company, is facing divestment by several mutual fund companies following regulatory interventions by the Reserve Bank of India (RBI). Six mutual funds have completely divested their holdings in Paytm in February, while six others significantly reduced their stakes. The divestment comes after the RBI barred Paytm Payments Bank from various banking services due to non-compliance issues. As a result, 18 mutual funds now hold Paytm shares worth INR 1,426 crore, down from INR 3,384 crore in January. The National Payments Corporation of India is expected to grant Paytm a third-party application provider license by March 15.