Paytm says it is not in talks to sell stake; calls report speculative

Paytm said on Wednesday that it was not in talks to sell a stake, contrary to what a media report had said earlier in the day.

Gautam Adani, Indian billionaire and chairman of ports-to-power conglomerate Adani Group, is in talks with Paytm founder Vijay Shekhar Sharma to acquire a stake, the Times of India had reported, citing sources familiar with the matter.

“We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard,” Paytm said.