Paytm denied a recent news report about SoftBank and Ant Group selling shares, claiming that the company is "not involved in any negotiations or activities as indicated in the news report."
The Chinese Ant Group and the Japanese SoftBank reportedly wanted to sell their firm stock through a secondary market. According to information, Masayoshi Son's SoftBank and an unit of Alibaba named Antfin each own 13.24 per cent and 25.47 per cent of Paytm, respectively.
Paytm responded in a stock filing to the NSE and BSE's request for clarification on the story, "The Company is not part of any negotiation/ events as mentioned in the news report. Accordingly, there is no sequence of events available and no disclosure is required to be made under Regulation 30 of the SEBI Listing Regulations."
According to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a listed business is obligated to notify the stock exchanges on a regular basis of any developments that could affect its operations or performance.
Upon being questioned by NSE and BSE regarding the information in question and the reasons why it was not disclosed to the Exchange earlier as required by regulation 30 of the SEBI (LODR) Regulations, 2015, Paytm said, "The Company is not aware of any information that will create an obligation of making any disclosure under Regulation 30 of SEBI Listing Regulations and/ or likely to have bearing on the price/ volume of the shares of the Company."