Fact Check: Will Paytm really have a good day? Will Adani buy stake? Know what is truth

News agency PTI termed the meeting and stakeholding between Paytm and Adani as rumours, a report received by the agency revealed that Paytm has refuted claims made in media reports, which claimed that Adani Group chief Gautam Adani was in talks with Paytm founder Vijay Shankar Sharma to buy a stake in Paytm. were conversing.

A well-known fintech company of the country has termed this news as a rumour. The company has said that such news is just speculation. Paytm has said in the information given to the stock markets that the company is not in any kind of communication in this regard.

In the filing, the company said, “…we clarify that the above news is a rumor and the company is not involved in any discussions in this regard. We have always complied with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations.

Early on Wednesday, a newspaper, citing unidentified sources, reported that Adani Group Chairman Gautam Adani is considering buying a stake in Paytm's parent company One97 Communications.

Shares of the company took an upper circuit of 5%

The report claims that Paytm founder and CEO Vijay Shekhar Sharma met Gautam Adani at Adani's office in Ahmedabad on Tuesday and finalized the outline of the deal. According to the report, Sharma's stake in One97 Communications is about 19 percent, which is valued at Rs 4,218 crore.

Shares of the company closed at Rs 342 per share on Tuesday. Shares of Paytm rose 5% on the BSE on Wednesday to Rs. The upper circuit was reached at 359.55. The jump in the company's shares came after news of Adani Group chief Gautam Adani's stake in the company surfaced. However, now the company has refused to do such a deal.