Paytm on February 28 refuted the recent news article about offloading of shares by SoftBank and Ant Group, saying the firm was ‘not part of any talks/events mentioned in the news report’.
In a report published by Economic Times, it was said that China’s Ant Group and Japan’s SoftBank were looking to sell their shares in the company through a secondary sale. As per the details, Masayoshi Son’s SoftBank and Alibaba affiliate Antfin hold 13.24 per cent and 25.47 per cent shares in Paytm, respectively.
In its clarification sought by NSE and BSE on the report, Paytm said in the stock filing, “The company is not part of any conversation/events as mentioned in the news report. Accordingly, no sequence of events is available and No disclosure has been made as required to be done under Regulation 30 of the SEBI Listing Regulations.”
Read also: Zomato, Paytm shares: JP Morgan remains bullish, sees ‘improving profitability’
Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 requires a listed company to regularly inform the stock exchanges of any events which have a bearing on its performance or operations.
When asked about the reasons for providing the said information by NSE and BSE and not disclosing the same to the exchange earlier under Regulation 30 of SEBI (LODR) Regulations, 2015, Paytm said, “The company is not aware of Any information which would give rise to any disclosure obligation under Regulation 30 of the SEBI Listing Regulations and/or is likely to affect the price/quantity of shares of the company.”
On the issue of material impact of this article on the company, Paytm said, “We are not aware of any material impact of this news article.”
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