Paytm was quick to clarify the reports of Adani eyeing stake in the company labelling it as ‘speculative’. The Vijay Shekhar Sharma-led fintech said the company is not engaged in any discussions in this regard.
The shares of One 97 Communications (Paytm) hit 5 per cent upper circuit on Wednesday, despite of Paytm clarifying the reports of Adani eyeing stake in the company.
As per the report by Times of India, Sharma visited Adani at his office in Ahmedabad to “finalise the contours of a deal” on Tuesday.
However, the fintech has denied any such discussion in exchange filing.
The reports suggested that if the so called deal is successfully negotiated, 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.
