New Delhi: One97 Communications Ltd, which owns digital funds agency Paytm, has granted 3.9 million new worker inventory choices (Esops) to its employees below One97 Staff Inventory Possibility Scheme 2019.
On the present share worth of Paytm, which is round ₹556 apiece, the entire worth of the brand new inventory possibility grant is round ₹217 crore.
Every inventory possibility is convertible into one absolutely paid-up fairness share having face worth of Re 1 every, stated Paytm in a inventory market disclosure, with out revealing info on the variety of workers who will profit from the brand new inventory possibility grant.
The inventory choices granted, with an train worth of ₹9 per inventory, may be exercised anytime throughout your entire interval of steady lively employment from the date of vesting of the respective choices, it added.
In a separate submitting, the corporate stated that it has allotted 177,114 fairness shares to eligible workers below Worker Inventory Possibility Plan 2008 and Worker Inventory Possibility Plan 2019.
Following the allotment, the corporate’s paid-up fairness share capital has elevated from ₹64.85 crore to ₹64.87 crore.
Round a few months earlier than Paytm’s itemizing in November, Paytm had acquired the greenlight from shareholders to increase its ESOP pool by greater than two occasions from 24,094,280 fairness choices to 61,094,280 choices.
Paytm’s inventory has taken a hammering within the public markets because it acquired listed on the bourses in November final 12 months at an IPO worth of ₹2,150. On the IPO worth, Paytm had a market capitalization of almost ₹1.4 trillion ($18.6 billion), which has since lowered to ₹36,115 crore ($4.69 billion).
Paytm has since misplaced its tag because the most-valued startup in India to Byju’s (on the IPO worth, it was searching for a valuation of about $600 million greater than the edtech startup’s valuation). The corporate additionally misplaced its tag because the most-valued fintech startup in India, and now trails RazorPay’s $7.5 billion valuation within the Indian fintech area.
Public shareholders have raised issues over the corporate’s path to profitability because it has not registered a single internet revenue so far.
Final month, Vijay Shekhar Sharma, founder and chief government officer of Paytm, knowledgeable exchanges that his inventory grants will likely be vested to him solely after the corporate’s market capitalization crosses the IPO degree on a ‘sustained foundation’. He additionally stated that he expects Paytm to be operationally worthwhile within the subsequent six quarters.
Supply: Live Mint