Ferro alloy maker Maithan bets US$8.42M on Paytm and ESDS shares
What's the deal? Maithan AlloysDealroom has a profile for this one. Try Dealroom →, an Indian ferro alloy manufacturer, invested about US$8.43M in two listed companies on September 21, 2026. It bought 330,000 shares of One 97 CommunicationsDealroom has a profile for this one. Try Dealroom →, Paytm's parent, for US$8.17M, and 11,730 shares of ESDS Software SolutionDealroom has a profile for this one. Try Dealroom → for US$258K. The company disclosed the purchases on September 22.
What Maithan does: The company makes and exports manganese-based ferro alloys, including ferro manganese, silico manganese, and ferro silicon. It also runs wind power operations and has widened its authorised activities into real estate, healthcare, hospitality, and education.
The details: The Paytm purchase amounts to roughly 0.05% of that company's equity, and the ESDS stake about 0.01%. Both were made through the stock exchange, with no intention to gain management control. The investments should be seen as portfolio bets rather than strategic acquisitions.
Why it matters: The buys show Maithan is steadily investing in listed equities alongside its core business. It has disclosed 2026 stakes in Bank of IndiaDealroom has a profile for this one. Try Dealroom →, Canara BankDealroom has a profile for this one. Try Dealroom →, Bank of BarodaDealroom has a profile for this one. Try Dealroom →, Power Finance CorporationDealroom has a profile for this one. Try Dealroom →, and HFCL, among others.
The ESDS angle: ESDS provides data centre, cloud, colocation, managed services, and AI infrastructure to government, PSU, BFSI, and enterprise customers. In September 2026, Maithan already bought 760,548 ESDS shares for about US$15.3M, so the latest purchase adds to an existing position. ESDS reported FY26 turnover of US$51.3M and profit after tax of US$8.42M.
By the numbers: Paytm reported FY26 turnover of US$791M and profit after tax of US$9.1M, per the acquisition disclosure. Maithan shares trade at US$13.6, up 0.42%, giving it a market capitalisation of US$395M. The stock has returned 15.56% over six months, against a 52-week range of US$11.3 to US$16.4.
The signal: Maithan's move reflects a cash-rich industrial firm deploying capital into public markets, from banks and financiers to fintech and IT infrastructure. The pattern points to treasury-driven equity investing as a growing sideline for India's traditional manufacturers.
Read more: tradebrains.in
Image credit: Clint__Budd
