As many as 19 mutual fund schemes from four asset management companies (AMCs) have invested around Rs 1000 crore assets under management (AUM), combine in recently listed One-97 Communications-backed Paytm as of November 30, 2021, according to stock analysis portal trendlyne.com. 

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The four AMCs that have shares of Paytm, as per the stock analysis portal Trendlyne are: Aditya Birla Sun Life Mutual Funds, HDFC AMC, Mirae Asset and BNP Paribas. In this, at least 10 such schemes of Aditya Birla Sun Life have combined invested around Rs 469 crore as of November 30, 2021.

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Besides Aditya Birla Sun Life MF, as many as with 5 plans of Mirae Asset have AUM of over Rs 373 crore, and HDFC AMC through its 4 schemes have around AUM of Rs 130 crore in the company.

To confirm this, Edelweiss Alternative Research also in its report of Mutual Funds investment in the month of November said, “Aditya Birla Sun Life MF and HDFC MF have made an addition in Paytm with Rs 469 crore and Rs 127 crore.” Besides Paytm, they have also added Policy Bazaar in their portfolio.

Similarly, the report also confirms that Mirae MF has picked up stakes worth Rs 374 crore in Paytm for the first time as of November 30, 2021.

Along with these top mutual fund firms, BNP Paribas through one scheme also has an AUM of Rs 8 crore in the digital company as of November 30, 2021, the data showed.

The market analyst and TradeSwift Director Sandeep Jain believes that the entry of these mutual funds could be seen on the back of appropriate valuations of the company’s shares. 

He says, the major MF houses seem bullish in the company perhaps because of two reasons one due to the unique business model, and second, the company is backed with marquee investors. 

The fintech sector to get into stiff competition with the central bank proposing digital banks going forward, as announced during December monetary policy meeting. 

The stock on Wednesday slipped nearly 13 per cent intraday as the 30-day anchor investors lock-in period ends, while it closed over 1 per cent to Rs 1399 per share during Thursday’s session.

Paytm shares were listed at a discount of around 9 per cent on November 18, 2021, at Rs 1950 per share as compared to Rs 2150 per share of issue price at the upper end. The stock has corrected over 28 per cent from its listing price and nearly 35 per cent from its IPO issue price on Thursday.