"We firmly deny the news of Paytm s proposed acquisition of Bitsila," a company spokesperson said in a statement. The statement comes in response to media reports of Paytm E-commerce platforms acquiring Bitsila.
". The name of the company has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited with effect from the date of this certificate. The company was originally incorporated with the name Paytm E-Commerce Private Limited," according to a Registrar of Companies notification dated February 8.
Bengaluru-based Bitsila is currently the third largest seller side platform by transactions on the Open Network for Digital Commerce, sources said. The deal is in advanced stages and will likely close in the coming week, according to two people in the know