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New Delhi. Motilal Oswal Mutual Fund (Paytm Parent Company) Forest 97 Communications (One 97 Communications) of Paytm has made its stake above five percent by purchasing additional shares. Meanwhile, on Tuesday, Forest 97 Communications stock on BSE climbed 4.58 percent to close at Rs 1,227.30. The stock touched a level of up to Rs 1232.65 during trading. Was.

What is the details of the deal
In the information given to the stock market on Tuesday, the Mutual Fund Company said that it bought 26,31,244 shares of One 97 Communications from the open market on August 11, increasing its share by 0.41 percent. After this, the total stake of Motilal Oswal MF in Paytm has increased to 5.15 percent. However, he did not reveal the evaluation of this share transaction. These shares were purchased through more than 20 schemes including Motilal Oswal Midcap Fund, Flexi Cap Fund, ELSS Tax Saver Fund and various ETF schemes.

This stake by Brokerage has been increased at a time when Chinese Ant Group also sold its entire 5.84 percent stake in Paytm’s core company One 97 Communications for around Rs 3,980 crore.

Good news to Paytm Payments Services
Paytm Payments Services has received the approval of the Reserve Bank of India (RBI) to work as an online payment ‘aggregator’. This information was given by One 97 Communications, its original company and ownership of Paytm brand.

The move has also lifted the ban on adding new traders on Paytm Payments Services Limited. The ban was imposed on the company on 25 November 2022. Explain that the company applied for this in March 2020 but the approval was stuck in the company due to some compliance issues to foreign direct investment.