Adani Group Denies Media Reports Of Buying Stake In Paytm

After a clarification from Paytm on media reports that Adani Group Chairman, Gautam Adani was in talks with Paytm founder Vijay Shankar Sharma to buy a stake in Paytm, the Adani Group today denied such reports and termed them false and untrue.

"We categorically deny this baseless speculation. It is totally false and untrue," a spokesperson of Adani Group told news agency ANI.

Earlier fintech company Paytm 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 above-mentioned news item is speculative and the Company is not engaged in any discussions in this regard," the filing read.

"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."

A newspaper, quoting unnamed sources, had 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". Now both companies have denied the report and called it speculative, baseless and untrue.

According to the news report, Mr 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.
 

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