By Malvika Gurung
Investing.com — Amid the ongoing exodus of domestic shares and funds by foreign investors amid prospects of recession, aggressive rate hikes by global central banks to tame the soaring inflation and investors flocking toward the safe-haven appeal of the US dollar, FPIs and mutual funds have added stakes in the fintech major stock Paytm (NS: ) during the June 2022 ending quarter.
According to the mobile wallets company’s latest shareholding pattern for the Apr-Jun quarter, the shareholding of foreign portfolio investors in the new-age digital company has climbed from 4.42% to 5.45%.
The number of FPI shareholders has risen from 54 to 83, incrementing the shares held by them in the company to 3,53,72,428 from 2,86,80,948 recorded in the Mar 2022 quarter.
Further, mutual fund companies have also raised their stakes in Paytm during the quarter under focus.
The count of shareholders as mutual funds climbed to 19 from 3 in Q1 FY23, and the total number of shares held by them has increased from 68,19,790 to 74,02,309.
During the three-month period, the new-age digital scrip surged 28% and ended Wednesday with a market capitalization of Rs 47,797 crore.