In response to recent media speculation, Paytm has firmly denied any ongoing discussions with the Adani Group regarding a potential stake sale. The fintech giant, One 97 Communications, which operates under the brand name Paytm, dismissed the rumors as speculative.
Hours after a media report suggested that Adani Group Chairman Gautam Adani was in talks with Paytm founder Vijay Shekhar Sharma to acquire a stake in the company, Paytm issued a formal statement refuting the claims.
In a regulatory filing to stock exchanges, Paytm clarified, “We hereby clarify that the abovementioned news item is speculative and the Company is not engaged in any discussions in this regard.” The company emphasized its commitment to transparency, stating, “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.”
Earlier on Wednesday, a newspaper article cited unnamed sources alleging that Gautam Adani was looking to acquire a stake in One 97 Communications, Paytm’s parent company. The report claimed that Vijay Shekhar Sharma had met with Gautam Adani at the latter’s office in Ahmedabad to discuss the details of a potential deal.
According to the speculative report, Sharma, who owns approximately 19% of One 97 Communications, was purportedly exploring a sale of his stake, valued at Rs 4,218 crore based on the stock’s closing price of Rs 342 per share on Tuesday.
Despite the media buzz, Paytm’s swift and clear denial aims to quell any market uncertainties and reaffirm the company’s position. The fintech sector continues to be abuzz with rumors, but Paytm’s latest statement underscores its stance on maintaining regulatory compliance and transparency.
As of now, there are no confirmed discussions between Paytm and the Adani Group regarding any stake acquisition. Investors and stakeholders are advised to rely on official disclosures and regulatory filings for accurate information.
