New Delhi. Digital payments and financial services company Paytm is planning to launch an IPO worth Rs 16,600 crore in October. Earlier, its employees have been given time till September 22 to convert Employee Share Option Plan i.e. ESOPs/Employee Stock Option Plan into shares. A source related to this news gave this information.
Sources said Paytm’s parent company One97 Communications, in an email to its employees, has asked if they are willing to convert their ESOPs into shares. According to the email, the employees have been given time till September 22 to decide on the ESOP. Sources said the deadline for nominee employees to sell or buy shares is September 27, while for key management employees and shareholders, the deadline is September 22.
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Over 200 employees convert their ESOPs into shares
He said, “No changes will be made in them after the decision is taken. The total paid-up capital of Paytm as on September 2021 is Rs 60,72,74,082.” According to the filing of the Registrar of Companies, more than 200 employees of Paytm have converted their ESOPs into shares.
“Based on the paid up capital and estimated valuation of around Rs 1.47 lakh crore, Paytm will promote wealth creation for its employees,” the sources said.
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Gross merchandise value of Rs 4.03 lakh crore
Significantly, Paytm has reported the highest Gross Merchandise Value (GMV) in the payments industry at Rs 4.03 lakh crore.
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