New Delhi: The digital payment and finance company Paytm has received over 5.45 lakh shares from around 20 other employees for monetization in its upcoming IPO. According to a regulatory filing by One97 Communications (OCL), about 20 other employees have converted their ESOPs into a total of 5,45,735 shares.
Previously, 200 former and current employees had converted their ESOPs into shares, bringing the total number of employees to around 220.
Last week, Paytm gave employees until September 22nd to convert their ESOPs into stocks for monetization in the upcoming IPO.
For “designated persons” to sell or buy shares, the cut-off date is September 27th, for KMPs (key personnel) and selling shareholders it is September 22nd.
Paytm also facilitates loans of up to Rs 100 crore through its lending partners and will also bear the interest on these loans for six months so that employees can better manage their finances and still become proud shareholders of the company.
The company has total paid-up capital of 60.72.74.082 rupees (as of September 2021). At the time of its listing, it is aiming for a valuation of around 1.47 million rupees.
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Paytm has reported the highest gross merchandise value of Rs 4.03 lakh crore in the payments industry.