Vijay Shekhar Sharma, founder of Paytm, acquires a 10.30% stake in the company from Antfin.
This move results in a Chinese entity no longer being the largest shareholder in Paytm.
Analysts view this change as positive for Paytm's fundamentals and stock outlook.
Vijay Shekhar Sharma's stake in Paytm increases to 19.42%, making him the largest shareholder.
Antfin's stake in Paytm drops to 13.5% following the ownership transfer.
The shift in ownership structure is expected to alleviate concerns about potential supply overhang.
Vijay Shekhar Sharma's confidence in Paytm's growth is evident through his substantial investment.
The ownership change mitigates the risk of a major stakeholder entering the company, enhancing stability.
BofA Securities maintains a "Buy" rating for Paytm, projecting a target price of ₹1,020 per share.
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