Amidst difficulties faced by One97 Communications, the parent company of Paytm, following RBI restrictions,
talks have surfaced regarding Adani Group Chairman Gautam Adani’s potential stake acquisition in the company.
Despite Paytm denying any ongoing discussions,
a recent meeting between Paytm CEO Vijay Shekhar Sharma and Adani Group Chairman adds fuel to the speculation.
Speculation Sparks Denial from Paytm
A spokesperson from Paytm dismissed the speculation, asserting that the company is not engaged in any discussions regarding stake acquisition.
However, reports suggest that Vijay Shekhar Sharma’s recent visit to Ahmedabad aimed at finalizing the outline of the deal with Adani Group.
Potential Implications of the Deal
If the deal materializes, Adani Group’s entry into the fintech market could intensify competition, pitting it against giants like Google Pay, PhonePe, and Jio Financial.
This move would mark another significant acquisition for Adani Group, following its previous purchases of Ambuja Cements and NDTV.
Stake Details and RBI Restrictions
Vijay Shekhar Sharma holds approximately 19 percent stake in One97 Communications, valued at around Rs 4,218 crore.
The RBI’s imposition of business restrictions on Paytm Payments Bank earlier this year, citing regulatory violations, adds complexity to the ongoing developments.
