Paytm parent One97 Communications Limited has allotted 4,05,190 equity shares to eligible employees under its employee stock ownership plan
With the fresh allotment, the issued and paid-up equity share capital of Paytm has increased to INR 63,71,37,829 Cr from INR 63,67,32,639 Cr earlier
The company previously expanded its ESOP pool by granting an additional 4.81 Lakh stock options to employees, in October
Paytm
parent One97 Communications Limited has allotted 4,05,190 equity shares to eligible employees under its employee stock ownership plan (ESOP).
In an exchange filing, the company said that its board passed a resolution on November 7 (Thursday) to allot 4,05,190 equity shares of face value INR 1 each to eligible employees upon exercise of vested options under the Employees Stock Option Scheme 2019.
With the fresh allotment, the issued and paid-up equity share capital of Vijay Shekhar Sharma-led company has increased to INR 63,71,37,829 Cr from INR 63,67,32,639 Cr earlier.
Paytm’s stock is currently up about 4.5% at INR 831.40 per share on the BSE during intraday trading session.
With that, the company’s market capitalization stands at INR 52,976.16 Cr.
The fintech giant expanded its ESOP pool by granting an additional 4.81 Lakh stock options to employees, in October.
This development comes on the heels of its recent launch of a new feature which lets users download their UPI transaction statements directly from the application. This new initiative was aimed at making it easier for users to track expenses, manage budgets, and prepare for tax filing.
Furthermore, the company’s chief product officer and head of consumer products Shreyas Srinivasan stepped down from his role earlier this week, following Zomato’s recent acquisition of Insider.in, Paytm’s ticketing and events platform.
Meanwhile, in October, Paytm posted a consolidated profit after tax (PAT) of INR 930 Cr in the September quarter of the financial year 2024-25 (Q2 FY25), as against a loss of INR 292 Cr in the year-ago period. The company said that Paytm’s PAT included a one-time exceptional gain of INR 1,345 Cr on account of sale of its entertainment ticketing business.
However, revenue from operations fell 34% year-on-year to INR 1,1660 Cr in the reported quarter from INR 2,519 Cr, a year ago.
Also, startups across sectors have been expanding and allocating employee stock option plans for their eligible employees.
For instance, logistics giant Delhivery allotted 73,300 stock options under its ESOP 2012 scheme, earlier this month.
In October, fintech SaaS startup Zaggle alloted nearly 2.29 Lakh equity shares under its ESOP 2022 scheme, and beauty and fashion ecommerce major Nykaa allotted 3.08 Lakh equity shares.
Updated at 12:05 PM
