Sunil Bharti Mittal, Chairman of Bharti Enterprises, is reportedly looking for a stake in one of the largest fintech companies in India - Paytm. According to a Bloomberg report, Mittal is looking to fold Paytm Payments Bank and Airtel Payments Bank in a stocks deal and is also looking to buy Paytm shares from other holders. The report said that the talks are in the early stages right now and may not reach a deal.
Paytm has had a very bad time in the stock market after going for IPO (Initial Public Offer) for Rs 2150 but then seeing the shares plunge by a large percentage in the first year. It is worth noting that from its record-low figures in November 2023, Paytm's stock has recovered 40%. Also, the company's third-quarter loss narrowed after seeing a boost in revenues post a drive to add new subscribers.
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The report said that a Paytm representative in an email said that they are not in any such talks with Airtel at the moment. Paytm is one of the largest fintech brands in the country, while Airtel Payments Bank is growing fast on the back of Airtel's brand and a brilliant execution strategy. Airtel Payments Bank is one of the rare profitable fintech companies in the market.
