One 97 Communications shares surged 5% after denying talks of selling stake to Adani. Adani Group may enter fintech industry with Paytm deal, competing with Google Pay and others. Paytm faces losses due to RBI ban on Paytm Payments Bank Ltd.
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm s parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
Shares of Paytm surged 5% as Gautam Adani considers investing in the company. Paytm founder met Adani to discuss a potential deal. Adani is also seeking investments from West Asian funds for Paytm, facing challenges after RBI restrictions.
Paytm: The Vijay Shekhar Sharma-led fintech major said the reports of Adani eyeing stake in the company are speculative and that the company is not engaged in any discussions in this regard.