Dynamite News Paytm denies media report on stake sale to Adani Group, terms it "Speculative"
Paytm informed stock exchanges in a filing that the company is not engaged in any discussions in this regard. Read further on Dynamite News:
New Delhi: Hours after a media report claimed that Adani Group Chairman Gautam Adani was in talks with Paytm founder Vijay Shankar Sharma to buy a stake in Paytm, the popular fintech company termed the report "speculative".
Paytm informed stock exchanges in a filing that the company is not engaged in any discussions in this regard.
"...We hereby clarify that the abovementioned news item is speculative and the Company is not engaged in any discussions in this regard," the filing read.
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"We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."
In the early hours of Wednesday, a newspaper, quoting unnamed sources, reported that Adani Group chairman Gautam Adani is looking to buy a stake in One 97 Communications, the parent company of Paytm.
The report claimed that Paytm founder and CEO Vijay Shekhar Sharma met Gautam Adani at the latter's office in Ahmedabad on Tuesday to "finalise the contours of a deal".
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According to the news report, Sharma owns about 19 per cent of One 97, which is worth Rs 4,218 crore based on the stock's Tuesday closing price of Rs 342 per share.