Akash Bhansali’s Paytm Bet Nets ₹865 Crore Gain After Buying During RBI Crisis

Akash Bhansali’s Paytm Bet Nets ₹865 Crore Gain After Buying During RBI Crisis

Ace investor Akash Bhansali’s Paytm bet has turned into a major wealth-creation story, with his holding in One97 Communications, the parent company of Paytm, now valued at around ₹1,225 crore, compared with roughly ₹360 crore when he built the position in 2024.

Bhansali, associated with Enam Holdings, entered Paytm when sentiment around the fintech company was severely damaged by regulatory action against Paytm Payments Bank.

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Akash Bhansali’s Paytm Bet holds 7.92 million Paytm shares

According to the latest available shareholding data, Bhansali owns 7,921,162 shares of One97 Communications, representing about 1.24% of the company. At an intraday price of around ₹1,546, the holding is worth approximately ₹1,225 crore.

The numbers highlight the scale of the recovery. The holding’s current value is roughly 3.4 times the approximately ₹360 crore value associated with his original position, implying an increase of about ₹865 crore.

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Investment Performance Breakdown

• Initial Investment Value: Rs 360 crore
• Current Portfolio Value: Rs 1,225 crore
• Total Absolute Gain: Rs 865 crore
• Absolute Percentage Return: 240.28%
• Investment Multiple: 3.4x the original capital

Bhansali bought Paytm during the regulatory crisis

The timing of Bhansali’s investment was significant.

In early 2024, the Reserve Bank of India imposed restrictions on Paytm Payments Bank, triggering a sharp sell-off in One97 Communications. The stock subsequently touched a 52-week low of around ₹310.

By the end of June 2024, Paytm had recovered to approximately ₹465.20, around the period when Bhansali disclosed a 1.21% stake. Historical shareholding data shows that his holding subsequently increased to 1.24%, or 7,921,162 shares.

Importantly, Bhansali has continued to hold the same number of shares through the latest available quarterly disclosure.

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Key Investment Milestones

• The Entry (Q1/Q2 2024): Acquired a 1.21% stake during intense regulatory pressure from the RBI, near the stock’s all-time low of Rs 310.
• The Accumulation (Q3 2024): Scaled up the position to a 1.24% stake, totaling 7,921,162 shares.
• The Catalyst (August 2026): Brokerage firm Bernstein raised its target price to Rs 2,200 with an ‘Outperform’ rating, triggering a 9% single-day intra-day rally to Rs 1,546 per share.

Paytm shares rally after Bernstein raises target price

The latest jump in the value of Bhansali’s Paytm holding came after a sharp rally in One97 Communications shares.

The stock gained nearly 9% intraday on Monday, after brokerage Bernstein raised its target price to ₹2,200 while maintaining an ‘Outperform’ rating.

At around ₹1,546, Bhansali’s 7,921,162 shares translate into a holding value of approximately ₹1,225 crore.

From Paytm crisis to a major portfolio gain

Paytm’s recovery represents a dramatic change from the environment in which Bhansali built his position.

The company faced regulatory pressure, weak investor sentiment and heavy selling following the RBI’s action. Since then, Paytm has worked to rebuild its payments business and address the regulatory issues that had weighed on the stock.

For Bhansali, the investment demonstrates the potential rewards of taking a contrarian position when uncertainty is extremely high. However, the gains also reflect the substantial risk involved in buying a stock during a regulatory crisis.

What Paytm’s recovery means for investors

The Paytm story offers an important lesson for investors: a sharp fall in a stock does not automatically mean it is cheap, but periods of extreme pessimism can create opportunities when the underlying business is capable of recovering.

Investors should nevertheless distinguish between Bhansali’s historical entry price and the stock’s current valuation. His investment was made during a very different risk-reward environment.

Paytm’s future performance will depend on its ability to sustain growth, improve profitability and execute its payments strategy while navigating competition and regulatory requirements.

Akash Bhansali’s portfolio crosses ₹7,900 crore

Paytm is only one part of Bhansali’s publicly disclosed portfolio. The latest shareholding data indicates that he holds 16 publicly disclosed stocks, with the combined portfolio valued at more than ₹7,900 crore.

The Paytm investment stands out because of the dramatic turnaround in the company’s share price since the 2024 crisis.

In short, Bhansali’s approximately ₹360 crore Paytm position has grown to around ₹1,225 crore in value—a gain of roughly ₹865 crore on the holding’s attributed initial value in about two years.

How much can Bhansali make if Paytm reaches ₹2,200?

If Paytm reaches Bernstein’s ₹2,200 target price, Akash Bhansali’s 7,921,162 shares would be worth approximately ₹1,742.66 crore, assuming he does not change his holding. Bernstein currently has an Outperform rating alongside the ₹2,200 target.

At around ₹1,546, the same holding is worth approximately ₹1,224.61 crore. Therefore, a move to ₹2,200 would increase the value of Bhansali’s disclosed Paytm stake by approximately ₹518.04 crore.

Calculation: 7,921,162 shares × share price ÷ 1 crore.

Important: These are hypothetical calculations based on Bhansali maintaining his current 7,921,162 shares. They are not predictions of Paytm’s share price or Bhansali’s actual future profit.