Paytm share price: Paytm parent One97 Communications shares hit a 5 per cent upper circuit today (May 31). This comes as a block deal involving 75.20 lakh shares, representing a 1.2 per cent stake in the company, took place on the exchanges.
The block deal was worth a total of ₹296.30 crore and the average floor price of the transaction was also at a premium of 3.6 per cent, Moneycontrol reported.
Paytm shares have been gaining since reports claimed that Adani Group chairman Gautam Adani might be considering acquiring a stake in Paytm’s parent company, One97 Communications.
Paytm issued a clarification and dismissed the report as mere speculation saying, “We hereby clarify that the abovementioned news item is speculative, and the company is not engaged in any discussions in this regard. We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.”
Likewise, the Adani Group also refuted the media report, as they categorically denied the reports as baseless speculations.
