Paytm has refuted claims that it is in talks with the Adani Group about a potential stake acquisition. This follows a report alleging that Paytm CEO Vijay Shekhar Sharma and Gautam Adani were negotiating a deal.
Paytm clarified that the news is speculative and no such discussions are happening. Despite the denial, Paytm’s shares rose by 5%, while Adani Enterprises’ shares dropped by 0.4%. Sharma holds a 9.1% stake in Paytm personally and another 10.3% through Resilient Asset Management.