Paytm refutes report on stake sale to Adani Group, calls it 'Speculative'

In one of the filings on Wednesday, the fintech company Paytm refuted claims of a deal with Adani Group.

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Courtesy: ANI

Hours after media reports claimed that Adani Group Chairman Gautam Adani was going to buy a stake in Paytm, the popular fintech startup termed the story as "Speculative". The statement from Paytm came on Wednesday.

Paytm in a filing said that it is not having any negotiations in this area with stock exchanges. "...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." The speculation ended on 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 news of the deal surfaced after a report claimed that Paytm founder and CEO Vijay Shekhar Sharma met Gautam Adani at the latter's office in Ahmedabad on Tuesday to "finalize the contours of a deal".