In percentage terms, retail shareholding is now down to 9.07%, compared to 9.73% at the end of June and 12.05% in March 2024.
| Quarter | Retail Shareholders (In Lakhs) |
| March 2024 | 12.05 |
| June 2024 | 11.43 |
| September 2024 | 10.27 |
| December 2024 | 9.67 |
| March 2025 | 9.45 |
| June 2025 | 8.93 |
| September 2025 | 8.45 |
On the flip side, India’s mutual funds continued to bet on the stock as it continued to recover from its lows. Domestic Mutual Funds had a 16.25% stake in Paytm at the end of the September quarter, higher than the 13.86% they held at the end of June and 13.11% at the end of the March quarter.
| Fund | Stake As Of September 30 |
| Motilal Oswal Midcap Fund | 5.57 |
| Nippon India Growth Midcap Fund | 2.11 |
| Amazing Asset Largecap Fund | 1.66 |
| Bandhan Large & Mid Cap Fund | 1.04 |
Founder & CEO Vijay Shekhar Sharma’s stake in the company was unchanged at 9.07%.Shares of Paytm rose nearly 22% during the July-September period, having gained 18% in the April-June quarter as well. The stock is up 16% in the month of October itself, and has gained in every month in 2025, barring January, February and September.
Shares of Paytm ended little changed at ₹1,306.8 on Tuesday. The stock recently received an upgrade from Axis Capital, who expects the stock to test levels of ₹1,500, which is the joint second-highest target on the street.
