One 97 Communications Limited
Nippon India Mutual Fund bought 11,11,000 shares of One 97 Communications for ₹124.50 Cr at ₹1120.65 apiece in a block deal. This purchase was part of a larger ₹964 crore block deal where other institutional investors also bought shares, and existing shareholders pared their stakes.
A leading digital payments and financial services platform in India, One 97 Communications operates an integrated ecosystem serving both consumers and merchants across the country. The company provides payment solutions, financial services, and commerce platforms through its core digital offerings. Its distinctive strength lies in connecting a vast network of users and merchants, enabling transactions and financial inclusion across India's digital economy through a comprehensive suite of services.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.