Sunday, July 14, 2024

Paytm Allots 2.8 Lakh ESOP Shares to Employees

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Paytm, led by Vijay Shekhar Sharma, a prominent fintech company, has approved the allotment of 2.8 lakh Employee Stock Option Plan (ESOP) shares to its employees. The decision was announced by Paytm’s Nomination and Remuneration Committee and disclosed to stock exchanges on July 7, 2024.

Detailing the ESOP Allocation

The allocation includes 2,78,858 shares under the 2019 ESOP and 2,536 shares under the 2008 ESOP. This move has increased Paytm’s total issued, subscribed, and paid-up equity share capital from Rs 635,992,696 to Rs 636,274,090, with each share having a face value of Re 1.

Vijay Shekhar Sharma, Paytm Founder and CEO.

Strategic Investment in Human Capital

Setting the exercise price per share at Rs 9, which includes a premium of Rs 8, signifies Paytm’s strategic investment in its employees. This initiative aims to reward and retain key talent crucial for the company’s growth.

Purpose of Expanding ESOP Pool

Expanding the ESOP pool is integral to Paytm’s strategy to attract, motivate, and retain top talent in the competitive fintech sector. ESOPs offer employees the opportunity to purchase company shares at a predetermined price, typically below market value, thereby aligning their interests with shareholders’.

Paytm

Impact on Workforce Motivation

According to Paytm, enhancing the ESOP pool ensures a motivated workforce committed to driving innovation and growth in digital payments.

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