Paytm Refutes Speculative Claims of Stake Sale Talks with Adani Group

In the midst of swirling rumors, Paytm has officially refuted claims that it is in discussions with the Adani Group regarding the sale of a stake in the company. This response comes after media reports suggested a potential deal was being finalized.

One97 communications Ltd, owner of Paytm brand, has refuted claims of engaging in talks with Adani group

Paytm’s Official Statement

On Wednesday, One97 Communications Ltd, the parent company of Paytm, issued a statement firmly denying any such negotiations. The company stated, “We hereby clarify that the above-mentioned news item is speculative and the company is not engaged in any discussions in this regard.”

Paytm emphasized its commitment to transparency and regulatory compliance, ensuring that any material developments will be disclosed in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Rumor Mill

Media reports had claimed that Paytm founder and CEO Vijay Shekhar Sharma recently met with billionaire Gautam Adani at his Ahmedabad office to discuss a potential deal. This alleged deal would have marked Adani Group’s entry into the competitive fintech sector, positioning it against giants like Google Pay and PhonePe.

Current Shareholding

Currently, Vijay Shekhar Sharma holds a 19% stake in One97 Communications. Other significant shareholders include Saif Partners, a private equity fund, and Antfin Netherlands.

Recent Challenges

Paytm has faced challenges since January when the Reserve Bank of India (RBI) put a hold on Paytm Payments Bank Ltd (PPBL) from conducting business. This regulatory setback has added to the company’s hurdles as it navigates the dynamic fintech landscape.

Conclusion

For now, it appears that the speculation around Paytm selling a stake to the Adani Group is unfounded. Paytm continues to operate independently, with no current plans for such a sale. Stay tuned for any further updates directly from the company as they remain committed to maintaining open and transparent communication.

Comments

Khajan Singh Tokas is an Indian Swimmer, Who Remained National Swimming Champion of India

Khajan Singh Tokas is one of the most outstanding swimmers India has ever produced. Born on 6 May 1964, in a small village of Munirka in Delhi, Khajan Singh stands tall in a sport, where mediocrity has been the byword for Indian sportspeople. He is currently working with Central Reserve Police Force (CRPF) and his achievements in swimming are still fresh in the minds of sports enthusiasts of the country. Khajan Singh Tokas is one of the most outstanding swimmers India has ever produced. He is currently DIG at CRPF. Born on 6 May 1964, in a small village of Munirka in Delhi, Khajan Singh stands tall in a sport, where mediocrity has been the byword for Indian sportspeople. He made a sensational debut in competitive swimming, when he bagged five gold medals at the National School Championships held in 1981-82. While he is currently working with Central Reserve Police Force (CRPF), his achievements in swimming are still fresh in the minds of sports enthusiasts of the country. Khajan...

Today in Politics: Modi, Kharge, and Rahul Gandhi Ramp Up Campaigns

As the Lok Sabha elections approach their final phase, political heavyweights are making a strong push in key battlegrounds. Here’s a look at the latest developments in the campaign trail: PM Modi will address a rally in Mathurapur in South 24 Parganas district in West Bengal .Congress leader Rahul Gandhi will address the election rallies in Ludhiana and Patiala in Punjab. Modi and Kharge in Odisha On Wednesday, Prime Minister Narendra Modi and Congress President Mallikarjun Kharge will intensify their campaigns in Odisha. This comes just before the seventh and final phase of the Lok Sabha polls on June 1. PM Modi will start his day with a rally in Mathurapur, South 24 Parganas district, West Bengal. He will then head to Odisha, where he will address public meetings in Mayurbhanj, Balasore, and Kendrapara. Meanwhile, Kharge will be holding rallies in Balasore and Bhadrak. Voting will take place in six Lok Sabha constituencies and 42 Assembly seats within these constituencies. Rahu...

Sudan conflict: Situation 'heartbreaking', says WHO; 61 per cent health facilities closed in Khartoum

In the capital Khartoum, 61 per cent of health facilities are closed, and only 16 per cent are operating as normal. Many patients with chronic diseases are unable to access the health facilities. The Sudanese doctors' union says 13 hospitals nationwide have been shelled and 19 others evacuated since fighting began. WHO on Wednesday said the bloodshed seen over the past 10 days in Sudan, where people have already suffered so much in recent years, is heartbreaking. In a media briefing, the director general of the World Health Organisation, Tedros Adhanom Ghebreyesus welcomed the ceasefire agreed between the parties. We urge all parties to fully respect it"," he said. Already, the violence has taken a terrible toll on health. On top of the number of deaths and injuries caused by the conflict itself, WHO expects there will be many more deaths due to outbreaks, lack of access to food and water, and disruptions to essential health services, including immunization, Tedros sa...

Summary Station

Search This Blog