Adani and Paytm deny stake acquisition

Even as the business world is abuzz with media reports that Adani Group Chairman Gautam Adani may acquire stake in One97 Communications, the parent company of Paytm, both companies have denied any such development.

Paytm shares hit a 5 percent high on Tuesday.

“We hereby clarify that the above information is speculative and the company is not conducting any discussions on this subject. We have always and will continue to disclose information in accordance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.” – stated One97 Communications.

The Adani group denied the media reports. He then “categorically denied these baseless speculations, they are completely false and untrue.”