Adani Group Denies Speculations Of Stake Acquisition In Paytm

In response to recent media reports suggesting an impending stake acquisition in digital payments giant Paytm, the Adani Group has issued a categorical denial, dismissing the claims as baseless speculation.

Earlier this week, reports surfaced alleging that the Adani Group initiated discussions with Paytm regarding a potential stake acquisition in the fintech company, which One 97 Communications Limited owns.

A spokesperson for the Adani Group unequivocally refuted the claims, labeling them as “totally false and untrue.”

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

Additionally, Paytm, in a regulatory filing, echoed the denial, asserting that the company is not engaging in any discussions regarding stake acquisition.

“We hereby clarify that the news item is speculative and the company is not engaged in any discussions in this regard,” Paytm stated in its filing.

The company emphasized its commitment to transparency and compliance with regulatory obligations, citing adherence to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

“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,” Paytm affirmed.

The statements from both the Adani Group and Paytm aim to quell the rumors circulating in the media regarding the alleged stake acquisition. Despite the speculations, both entities remain focused on their respective business strategies and objectives.

Also Read: IRCTC’s Net Profit Climbs 2 Percent To Rs 284 Crore, Dividend Announced