Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications on Wednesday responded to a media report claiming that Adani Group chairman, Gautam Adani, is likely considering acquiring a stake in Paytm's parent company One97 Communications.
«We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard. 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,» communicated the company in an official statement.
Read More: Adani's fintech play: Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co
Is Adani looking to acquire stake in Paytm?
As per the ToI report, Paytm founder and CEO Vijay Shekhar Sharma visited Adani at his office in Ahmedabad to «finalise the contours of a deal» on Tuesday.
If the said deal is successfully completed, it will signify the ports-to-airports conglomerate's entry into the fintech industry, and it will position it against competitors like Google Pay, Walmart-owned PhonePe, and Mukesh Ambani's Jio Financial.
Adani is engaging with West Asian funds to attract them as investors in One 97, the company that pioneered mobile payments in India, reported ToI quoting its sources further.
Read More: Adani Group wants a slice of India's payments and e-commerce pie: Report
Vijay Shekhar Sharma holds approximately 19 percent of One 97 Communications, with his stake valued at Rs 4,218 crore based on the
