&w=3840&q=100)
Motilal Oswal MF hikes its stake in One 97 Communications to over 5%
Press Trust of India New Delhi
Motilal Oswal Mutual Fund has acquired additional shares in One 97 Communications, the parent company of fintech firm Paytm, raising its total shareholding to over 5 per cent.
According to a regulatory filing on Tuesday, various schemes of Motilal Oswal Mutual Fund acquired 26,31,244 shares of One 97 Communications through open market transactions on August 11, 2024.
This adds a 0.41 per cent stake in Motilal Oswal MF's holding in Paytm.
The filing did not disclose the valuation of the transaction.
Following the transaction, the total shareholding of Motilal Oswal Mutual Fund in the Noida-based digital payments firm has increased from 3,02,80,155 shares (4.74 per cent) to 3,29,11,399 shares, which corresponds to a 5.15 per cent stake.
The shares were acquired by over 20 schemes, including the Motilal Oswal Midcap Fund, Flexi Cap Fund, ELSS Tax Saver Fund, and various ETF schemes, the filing noted.
As per the filing, the total voting capital of One 97 Communications stands at 63,81,02,551 shares.
Shares of One 97 Communications Ltd settled 4.58 per cent higher at Rs 1,227.30 apiece on the BSE on Tuesday.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
22 minutes ago
- Economic Times
Govt approves procurement of 97 Tejas jets for IAF
The government has approved the proposed procurement of 97 Light Combat Aircraft Tejas fighter jets and six advanced airborne early-warning and control (AEW&C) aircraft for the Indian Air Force at a cost around Rs 85,000 crore, people familiar with the matter said on Wednesday. The two procurement projects were learnt to have been given the green light by the Cabinet Committee on Security (CCS) headed by Prime Minister Narendra Modi, they said. The Tejas jets will be procured at a cost of around Rs 67,000 crore while the AEW&C project will cost the exchequer around Rs 18,000 crore, it is learnt. Second-hand Airbus-321 planes bought earlier from Air India by the defence ministry will be used for the AEW&C project that is aimed at enhancing the IAF's surveillance and signal intelligence systems. The procurement of the 97 LCA Tejas (MK-1A) comes nearly four years after the defence ministry sealed another deal involving the indigenously-built jet. In February 2021, the defence ministry sealed a Rs 48,000 crore deal with HAL for the procurement of 83 Tejas MK-1A jets for the IAF. The single-engine MK-1A will be a replacement for the IAF's MiG-21 fighters. The IAF is looking at inducting the warplanes as the number of its fighter squadrons have gone down to 31 from the officially sanctioned strength of 42. Tejas is a single-engine multi-role fighter aircraft capable of operating in high-threat air environments. It has been designed to undertake the air defence, maritime reconnaissance and strike roles.
Economic Times
22 minutes ago
- Economic Times
Vikram Solar shifts expansion focus to Tamil Nadu, Bengal unit to see limited growth
Synopsis Vikram Solar Ltd, an Indian solar panel manufacturer, is significantly expanding its production capacity, targeting 17.5 GW for modules and 12 GW for cells by FY27. While maintaining its West Bengal presence, the company will focus new projects in Tamil Nadu, including an integrated solar cell and module facility. Reuters City-based solar panel maker Vikram Solar Ltd will see the bulk of its upcoming capacity expansion shift to Tamil Nadu, even as the company targets an aggressive ramp-up to 17.5 GW of solar modules and 12 GW of solar cells by FY27, officials present, the company operates 4.5 GW of module capacity - with its largest plant of 3.5 GW at Falta SEZ in West Bengal and 1.3 GW at Oragadam near lion's share of new projects, however, will now come up at Vallam and Gangaikondan in Tamil Nadu, including a major integrated solar cell and module facility involving significant capital expenditure. In West Bengal, Vikram Solar will invest Rs 400 crore to add 2 GW of modules at its Falta unit, taking its total capacity there to 5.5 GW."By FY27 we are aiming to ramp up capacity to 17.5 GW of modules and backward integration for a capacity of 12 GW of cells," CMD Gyanesh Chaudhary the first phase, the expansion - comprising 6 GW of modules and 3 GW of cell manufacturing - will be funded through a mix of IPO proceeds, debt, and incentives. Tamil Nadu will extend about Rs 900 crore in subsidies to the company over the lifecycle of the new projects. Meanwhile, Vikram Solar's Rs 2,079.4 crore IPO, which opened on August 19 and closes on August 21, is already oversubscribed 4.4 times. The company raised Rs 620.81 crore from 43 institutional investors via the anchor book on August issue comprises a fresh issue of Rs 1,500 crore and an offer for sale by promoters. Post-issue, the promoter stake will fall to 63.1 per cent from 77.6 per Vikram Solar has secured Rs 1,700 crore debt financing from IREDA, while PLI incentives of Rs 528 crore and Tamil Nadu subsidies of Rs 900 crore will support the in 2006, Vikram Solar is among India's largest solar module makers and is now seeking to build a fully integrated solar ecosystem with backward linkages into cell manufacturing.
The Hindu
22 minutes ago
- The Hindu
RMG firms quietly assess Bill banning their industry; video game firms welcome move
Real money gaming (RMG) firms struck a cautious tone in responding to the Promotion and Regulation of Online Gaming Bill, 2025, which was passed by the Lok Sabha on Wednesday (August 20, 2025). The Bill prohibits any sort of online game that accepts money from users in exchange for a chance to win a return on the money, or risk losing what they put in. The E-Gaming Federation (EGF), which represents Games24x7 and RummyCircle, two RMG platforms, said that the Bill was a 'distinct opportunity to establish a framework that safeguards players while promoting responsible growth in a sunrise sector.' It added, 'Thoughtful regulation can amplify the positive impact while ensuring responsible and fair practices remain at the core.' The Bill would force these firms to stop offering pay-to-play games. Commissions on these games are a principal revenue stream for RMG firms. 'Death knell' In a letter to Home Minister Amit Shah, the firms underlined their anxieties more explicitly. 'Such a blanket prohibition would strike a death knell for this legitimate, job-creating industry, and would cause serious harm to Indian users and citizens,' the EGF said, along with the All India Gaming Federation and the Federation of Indian Fantasy Sports. 'Fly-by-night' offshore firms would proliferate, investor sentiment would be dampened, and two lakh people would lose their jobs, the letter argued. Video gaming is distinct category Video game companies, which have complained in the past about their industries being conflated with the RMG industry under the umbrella 'gaming' label, welcomed the Bill. 'For the last two years, the singular demand of the Indian video games industry has been recognition and categorisation as a distinct industry-business, not clubbed with online money games,' Harish Chengaiah, CEO of Chennai-based Outlier Games said. 'With the proposed Bill, that demand has finally been met, and we thank the Government of India for it.' The Bill may find takers across the political spectrum, but few voices of support emerged from the Opposition, amid the standoff on the special intensive revision of electoral rolls in Bihar and allegations of 'vote theft' by the INDIA coalition. However, Karnataka IT Minister Priyank Kharge and Congress MP Karti Chidambaram have both expressed concerns that an outright prohibition may not fix the problem and instead promote offshore gambling operators' attempts to make inroads among Indian users.
