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At the end of the December quarter, mutual funds held 4.99 percent stake in Paytm, up from 2.79 percent in the previous quarter. Nippon held a 1.05 percent and Mirae a 2.5 percent stake in the company
While restrictions on Paytm Payments Bank do not directly impact One97 Communications lending business, brokerages seem to be divided on the matter. Some brokerages see a huge customer exodus impacting loan distribution, while some say the impact will only be on the wallets business.
RBI’s warnings on rising unsecured credit in the system and subsequent action increasing risk weights on such loans will make life harder for Paytm, which is fighting to hold on to its wallet business and payments bank, believe experts
Sources said that the margin funding book for the Paytm stock stood at close to Rs 250-300 crore before the carnage started. What caused precipitous selling was the call by some brokers for additional margins, not just for Paytm stock they were holding but also other outstanding positions