Akash Bhansali, the head of Enam Holdings, made a bold move in early 2024 by buying a 1.21% stake in One97 Communications, Paytm’s parent company. He invested roughly Rs 360 crore when the shares were near a 52‑week low. The move was made while the company faced regulatory scrutiny.
The RBI had imposed restrictions on Paytm Payments Bank in early 2024, causing a sharp sell‑off. One97 Communications’ shares fell to about Rs 310, the lowest in 52 weeks, before climbing back to Rs 465 by the end of June.
Latest shareholding data shows Bhansali owns 7,921,162 shares, representing a 1.24% stake. The number of shares remained unchanged from the September 2024 filing.
At Monday’s intra‑day price of around Rs 1,546, the stake is valued at roughly Rs 1,225 crore. This is more than three times the original investment, giving a gain of about Rs 865 crore.
The recent surge was helped by a 9% jump in One97 shares after brokerage firm Bernstein raised its target price to Rs 2,200 and kept an ‘Outperform’ rating. The rally lifted the company’s market value and Bhansali’s stake.
Paytm has since worked to rebuild its payments business and resolve the regulatory issues that weighed on investor sentiment. The recovery shows how buying during a downturn can pay off if the company stabilises.
Bhansali now holds 16 publicly disclosed stocks worth over Rs 7,900 crore in total, according to the latest data. His Paytm investment is a key part of this diversified portfolio.