Paytm rejects reports of Adani stake purchases as “speculative,” while stock increases

The parent company of Paytm, One97 Communication Ltd (OCL), has denied media reports implying that Gautam Adani, the head of the Adani Group, is thinking about buying a share in the massive digital payment startup. According to the sources, Adani and Paytm founder Vijay Shekhar Sharma had talks to seal a possible agreement.

One97 Communications responded to these allegations by describing the stories as “speculative” and making it clear that the business is not in talks to sell a stake to Adani Group. The business underlined its dedication to adhering to legal standards and making disclosures as required.

In a similar vein, Adani Group has refuted the rumors, calling them outright “false and untrue.” This assertion runs counter to previous rumors that said Adani and Sharma were still in discussions to finalize the details of a possible deal.

Vijay Shekhar Sharma currently has a 19.39% direct and indirect investment in One97 Communications. After the clarification, the company’s stock jumped 5% to Rs 359.55 per share on the BSE.

The rumors about Adani’s potential involvement with Paytm coincide with the regulatory issues Paytm Payments Bank (PPBL) is now facing. Due to chronic non-compliances and regulatory concerns, the Reserve Bank of India (RBI) recently prohibited PPBL from receiving deposits or top-ups in client accounts.

Should the agreement go through, Adani Group will join the cutthroat fintech market and take on well-known names like Google Pay, PhonePe, and Jio Financial—which is controlled by Reliance Industries, the company headed by Mukesh Ambani.

There have reportedly been continuous talks between Adani and Sharma, with Adani reportedly looking into the possibilities of investing money from West Asian investors in One97 Communications. According to analysts, Paytm may be able to secure the financial support it needs to handle regulatory issues and stabilize its business by partnering with Adani Group, which would also increase Adani’s online presence in the fintech sector.

Stakeholders are keenly awaiting additional developments about this possible strategic relationship between Paytm and Adani Group, as rumors about it continue.