On Wednesday, Paytm refuted a news report from the Times of India, labeling it as “speculative.” The report claimed that discussions were ongoing between Adani Group Chairman Gautam Adani and Paytm CEO Vijay Shekhar Sharma about a potential stake sale in the digital payments company.

In a regulatory filing, Paytm’s parent company, One97 Communications Limited, stated, “We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard. In accordance with our responsibilities under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have always made and will continue to make disclosures.”

The Times of India had reported that Sharma met Adani at his Ahmedabad office on Tuesday to discuss the details of the deal. However, Paytm firmly denied these claims, emphasizing that no such discussions are taking place.

This news surfaces amidst other reports suggesting that Adani is considering expanding into fintech through UPI and co-branded credit cards, and into e-commerce via ONDC, integrating these new services into the Adani One consumer app, which currently offers travel-related services like flight and hotel bookings.