IPO-bound Paytm employees add 5.45 lakh more shares for monetisation

#Business, #ESOPs, #PayTm

Digital payments and financial firm Paytm has received over 5.45 lakh shares from around 20 more employees for monetisation in its upcoming IPO.

As per a regulatory filing by One97 Communications (OCL), about 20 more employees have converted their ESOPs into a total of 5,45,735 shares.

Earlier, 200 former and current employees had converted their ESOPs into shares, taking the total count of employees to around 220.

Last week, Paytm gave time till September 22 to employees to convert their ESOPs into shares for monetisation in the upcoming IPO.

For ‘designated persons’ to sell or buy shares, the deadline is September 27, while for KMPs (Key Management Personnel) and selling shareholders, the date is September 22.

Paytm is also facilitating loans of up to Rs 100 crore through its lending partners and will also bear the interest of these loans for six months so that employees can handle their finances better and yet become proud shareholders of the company.

The company has a total paid-up capital of Rs 60,72,74,082, as of September 2021. It is looking for a valuation of around Rs 1.47 lakh crore at the time of public listing.

Paytm has reported the highest gross merchandise value of Rs 4.03 lakh crore in the payments industry.

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