The country's well-known industrialist, Gautam Adani, has his eyes on Paytm. Now, let us tell you that Vijay Shekhar Sharma has about a 19 percent stake in One97.
Which is worth Rs 4218 crore based on the stock's closing price of Rs 342 per share on Tuesday. Sharma has a stake in Paytm.
He has a 10 per cent stake in a foreign firm, Resilient Asset Management. According to the documents filed by One97 with the stock exchange, both Vijay Shekhar Sharma and Resilient are listed as public shareholders.
According to the rules, an acquirer holding less than a 25 per cent stake in a targeted company has to make an open offer for a minimum 26 per cent stake in the company.
The acquirer can also make an open offer for the entire company's share capital. According to information received from sources, discussions have been going on between Adani and Sharma for some time.
Now, according to News 24, Paytm has refused to give a stake to Gautam Adani.
After RBI banned the operations of Paytm Payments Bank, other lenders like Aditya Birla Finance, Piramal Finance and Clix Capital have also ended their partnership with Paytm.