In one of the most remarkable stock recovery stories in the Indian fintech space, veteran investor Akash Bhansali has reaped massive returns on his investment in One97 Communications, the parent entity of Paytm. Bhansali’s initial stake—built during a period of extreme market anxiety in mid-2024 following regulatory action by the Reserve Bank of India (RBI)—was valued at approximately Rs 360 crore. With the paytm share price rallying sharply towards the Rs 1,550–Rs 1,580 level, that holding has surged to nearly Rs 1,225 crore, translating to an impressive 3.4x return.
This long-form analysis explores how Akash Bhansali capitalized on maximum market pessimism, the factors driving the paytm share price rebound, brokerage perspectives including Bernstein’s Rs 2,200 target, and what lies ahead for retail and institutional investors in One97 Communications.
1. The Contrarian Play: Building a Stake Amid Crisis
The 2024 Regulatory Storm
Early 2024 marked one of the most challenging periods in Paytm’s operational history. Following regulatory restrictions placed by the Reserve Bank of India (RBI) on Paytm Payments Bank, panic selling ensued across equity markets. The market value of One97 Communications plummeted, dragging the paytm share price down to an all-time low of Rs 310 per share.
Read Also: Datia Election Result 2026 Live Updates: BJP & Congress Battle in High-Stakes MP By-Election
Enter Akash Bhansali
Where most institutional investors saw heightened uncertainty and risk, Akash Bhansali—associated with Enam Holdings—saw deep value and long-term potential. As the stock gradually stabilized around Rs 465.20 towards the end of the April–June 2024 quarter, Bhansali disclosed a 1.21% equity stake in the company.
| Metric / Parameter | Initial Position (Q1/Q2 2024) | Current Status (August 2026) |
| Shareholding Percentage | 1.21% | 1.24% |
| Total Shares Held | ~7.7 Million | 7,921,162 shares |
| Stock Price Level | ~Rs 465.20 | ~Rs 1,546 – Rs 1,583 |
| Estimated Holding Value | ~Rs 360 Crore | Rs 1,225 Crore |
| Absolute Gain | Base | +Rs 865 Crore |
By September 2024, Bhansali slightly expanded his position to 1.24% (7,921,162 shares). He held onto this complete block of shares through subsequent quarters, demonstrating confidence in Paytm’s ability to restructure its business models.
2. What Triggered the Latest Paytm Share Price Rally?
The latest leg of the rally saw One97 Communications shares jump nearly 9% to 10% in intra-day trading, reaching levels above Rs 1,580. Key catalysts behind the ongoing movement in the paytm share price include:
1. High Conviction Upgrade by Bernstein
Global brokerage firm Bernstein reaffirmed its strong bullish thesis on Paytm, raising its price target on the stock to Rs 2,200 while maintaining an ‘Outperform’ rating. Bernstein highlighted:
- Rapid stabilization in payment merchant relationships.
- Rebuilding of the core payments business through new banking partner integrations.
- Expanding margin profiles in loan distribution and merchant subscription services.
2. Resolution of Regulatory Dependencies
Paytm’s management spent consecutive quarters executing a structural shift: migrating merchant settlement systems to partner banks, aligning with NPCI guidelines, and optimizing its operational expenditure. This clear strategic realignment restored institutional confidence.
3. Broad-Based Fintech Sector Re-rating
As Indian digital transactions continue their upward trajectory, market valuation multiples for market leaders in merchant acquiring and digital payments have expanded, directly favoring the paytm share price momentum.
3. Valuation Analysis: Understanding Akash Bhansali’s 3.4x Return
Akash Bhansali’s portfolio holding in Paytm highlights the asymmetric risk-reward ratio inherent in value investing during extreme market dislocations.
- Initial Cost Basis: Bhansali’s early entry point evaluated the entire 1.21% holding at roughly Rs 360 crore.
- Current Portfolio Realization: With paytm share price trading around Rs 1,546 to Rs 1,583 per share, the market value of his 7,921,162 shares stands at Rs 1,225 crore.
- Wealth Expansion: This single position delivered an absolute gain of Rs 865 crore.
As per public disclosure filings, Akash Bhansali holds equity in 16 publicly listed Indian companies, with a combined net worth exceeding Rs 7,900 crore. His Paytm holding now represents one of the largest single drivers of outperformance in his portfolio.
4. Key Factors to Watch for Paytm Investors
Investors monitoring the paytm share price moving forward should focus on several operational metrics:
- Merchant Subscription Growth: Adoption rates of Paytm Soundbox and POS devices across Tier-2 and Tier-3 Indian cities.
- Financial Services Monetization: Growth in credit distribution volumes in collaboration with leading non-banking financial companies (NBFCs) and banks.
- EBITDA Profitability (Pre-ESOP): Continued margin expansion and cost optimization across customer acquisition channels.
- Institutional Inflows: Increasing foreign institutional investor (FII) and domestic mutual fund allocations following key brokerage upgrades like Bernstein’s Rs 2,200 price target.
Read Also: MCC NEET UG Counselling 2026: Round 1 Registration Commences Today at mcc.nic.in
Frequently Asked Questions (FAQs)
Q1: What is the current market value of Akash Bhansali’s Paytm stake?
Akash Bhansali holds 7,921,162 shares (1.24% stake) in One97 Communications (Paytm). With the stock trading around Rs 1,546–Rs 1,583, his holding is valued at approximately Rs 1,225 crore, up from an initial value of Rs 360 crore.
Q2: Why did Paytm share price jump recently?
The recent jump in the paytm share price was triggered by global brokerage firm Bernstein raising its target price on the stock to Rs 2,200 with an ‘Outperform’ rating. This rating upgrade reflected growing operational recovery and improved earnings visibility for One97 Communications.
Q3: What was Paytm share price during its 52-week low in 2024?
Following regulatory action by the Reserve Bank of India on Paytm Payments Bank in early 2024, One97 Communications stock experienced heavy selling pressure, dropping to its 52-week low of Rs 310 per share before beginning its multi-quarter recovery.
Q4: How many shares does Akash Bhansali hold in Paytm?
According to the latest shareholding filings, Akash Bhansali holds 7,921,162 shares of One97 Communications. This represents a 1.24% equity stake in the fintech giant, a position he has consistently maintained since late 2024.
Q5: Is Paytm stock a good long-term buy according to analysts?
Major brokerages like Bernstein maintain an optimistic outlook on Paytm, setting targets up to Rs 2,200 based on core business stabilization and digital payment expansion. However, investors must evaluate personal risk tolerance and conduct thorough research before investing.
Conclusion
The spectacular rebound in the paytm share price underscores the rewards of strategic, contrarian investing during market distress. Akash Bhansali’s decision to back One97 Communications during its 2024 regulatory crisis has yielded a massive Rs 865 crore gain, taking his holding value to Rs 1,225 crore. As brokerages project further upside toward Rs 2,200 per share, Paytm’s turn-around narrative serves as a prime case study in business resilience and long-term value creation in India’s booming fintech economy.
