Sunil Bharti Mittal, Chairman of Bharti Enterprises, is reportedly seeking a stake in one of the largest fintech companies in India – Paytm. According to a Bloomberg report, Mittal wants to collapse Paytm Payments Bank and Airtel Payments Bank in a stock deal and also buy Paytm shares from other holders. The report said talks are currently at an early stage and may not lead to 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 saw the shares fall by a large percentage in the first year. It’s worth noting that Paytm’s shares have bounced back 40% from record lows in November 2023. Also, the company’s Q3 loss narrowed after seeing an increase in revenue following a boost to new subscribers to add.
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The report said that a Paytm representative said in an email that they are not currently in such talks with Airtel. Paytm is one of the largest fintech brands in the country, while Airtel Payments Bank is growing rapidly thanks to the Airtel brand and a brilliant execution strategy. Airtel Payments Bank is one of the few profitable fintech companies in the market.
