Paytm promotes Deepankar Sanwalka to director
Fintech platform Paytm recently promoted former enterprise functions president Deepankar Sanwalka to the post of director- only four months after he joined the company.
As per an Inc42 report, Sanwalka was appointed as “whole time director and key managerial personnel of the company for next five years with immediate effect.” With this promotion, the former will act as director in multiple Paytm group companies.
Deepankar Sanwalka, before joining Paytm four months ago, has worked at PwC India as its India advisory leader and at KPMG as head of risk consulting. Upon joining the IPO-bound fintech company, Sanwalka presided over the compliance and operations of the platform.
Paytm parent company One97 Communications, founded by Vijay Shekhar Sharma in 2009, is still waiting for the Securities and Exchange Board of India (SEBI) to greenlight its initial public offering worth Rs. 16600 crore. The enterprise had filed its draft red herring prospectus (DRHP) for public listing a few months ago. The startup is looking to raise the mentioned Rs. 16600 crore through a fresh issuance of shares worth INR 8,300 crore and an offer for sale (OFS) worth INR 8,300 crore.
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