Sources close to Gautam Adani have disclosed that the Adani Group chairman is exploring the acquisition of a stake in One 97 Communications, Paytm’s parent company. Paytm’s founder and CEO, Vijay Shekhar Sharma, recently met with Adani in Ahmedabad to finalize the deal details. This acquisition could significantly impact competitors like Google Pay, PhonePe, and Jio. With shares valued at around Rs 4,218 crore, Sharma owns approximately 19% of One 97 Communications.
According to SEBI regulations, an acquirer with less than a 25% stake must make an open offer for at least a 26% stake in the target company. Adani and Sharma have reportedly been negotiating this deal for some time, culminating in their recent meeting at Adani Corporate House. Additionally, Adani is said to be in talks with West Asian investors to involve them in One 97 Communications, a leader in mobile payments in India. Partnering with Adani could provide Paytm with the financial support needed to address its challenges and stabilize its operations.
For Adani, acquiring Paytm’s digital payments platform would enhance their digital presence and support their fintech ambitions. This move would give Adani access to Paytm’s extensive user base and technology, facilitating digital payments across their consumer-facing businesses such as airports, retail, and energy sectors. Despite these developments, Paytm has publicly denied any ongoing discussions to sell a stake, stating that the news is speculative and no such talks are happening.
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