One 97 Communications Ltd, which operates the Paytm brand, has become a majority Indian-owned company, with domestic investors increasing their stake to 50.3% as of March 2026. This change reflects a growing confidence among investors, particularly as domestic institutional investors raised their stake to a record 23.1% in the March quarter, up 2.8 percentage points sequentially and 9.1 percentage points from the previous year. Mutual funds have been at the forefront of this increase, raising their holdings from 14.3% to 16.6%, while insurance companies also increased their stakes. The rise in domestic ownership aligns with Paytm's improved financial performance, as the company reported a net profit of ₹225 crore for the December quarter, alongside a 20% year-on-year revenue increase to ₹2,194 crore. The company's EBITDA stood at ₹156 crore, with margins at 7%. Paytm's expanding merchant base, now at 1.44 crore, has also contributed to its positive outlook. Brokerages have noted these improvements, with Bank of America upgrading Paytm's stock and highlighting its leadership in higher-monetisation segments, particularly in merchant payments and lending.