Adani Group Denies Reports of Stake Purchase Talks with Paytm

GG News Bureau
Mumbai, 29th May.
 The Adani Group has firmly denied media reports suggesting that its Chairman, Gautam Adani, was in talks with Paytm founder Vijay Shekhar Sharma to acquire a stake in the fintech company. In a statement to news agency ANI, a spokesperson for Adani Group dismissed the reports as “baseless speculation” and “totally false and untrue.”

“We categorically deny this baseless speculation. It is totally false and untrue,” the spokesperson said.

This denial follows Paytm’s own clarification, wherein the company described the media reports as “speculative.” In a filing to stock exchanges, Paytm stated that it is not engaged in any discussions regarding a stake sale to the Adani Group.

“…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 rumors originated from a newspaper report citing unnamed sources, which claimed that Gautam Adani was considering purchasing a stake in One 97 Communications, Paytm’s parent company. According to the report, Vijay Shekhar Sharma allegedly met Adani at his office in Ahmedabad on Tuesday to “finalize the contours of a deal.”

Both Paytm and Adani Group have now refuted these claims, emphasizing that the reports are speculative, baseless, and untrue. The report had also mentioned that Sharma owns approximately 19 percent of One 97 Communications, valued at ₹4,218 crore based on Tuesday’s closing price of ₹342 per share.

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