A media report earlier claimed that the Adani Group was in talks with Paytm to acquire a stake in the fintech company, owned by One 97 Communications Limited.
"We categorically deny this baseless speculation. It is totally false and untrue," said a spokesperson of the Adani Group.
In a stock regulatory filing, Paytm also denied any such move.
"We hereby clarify that the news item is speculative and the company is not engaged in any discussions in this regard," said Paytm.
"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," said the company.
