UBS Group AG is looking to acquire the interest from a group of One97 Communications Limited employees, Bloomberg News reported. A fund managed by UBS Group AG's asset management arm is in discussions to invest $400 million in Paytm, Bloomberg News reported Jan. 14, citing people with knowledge of the matter.

UBS, alongside some of its clients, is looking to acquire the interest from a group of the company's employees, according to the unnamed sources. UBS intends to secure a deal as soon as January, although talks could still be delayed or fall apart. Paytm is not raising any new capital as part of the potential deal, sources said.

Representatives for UBS and Paytm declined to comment, according to Bloomberg.