Paytm Grants 1.7 Million New ESOPs to Employees

• ByStartupStory     |    July 21, 2023

One97 Communications, the parent company of Paytm, has issued 1.7 million new employee stock options (ESOPs) under the One97 Employees Stock Option Scheme 2019. As part of the scheme’s terms and conditions, 53,250 stock options were cancelled. The Nomination and Remuneration Committee of the company approved the grant in a meeting held on July 20, 2023.

The total value of the new stock option grant, based on Paytm’s current share price of around Rs 851, amounts to approximately Rs 144 crore. Each stock option is convertible into one fully paid-up equity share with a face value of Rs 1 each. However, the company has not disclosed the number of employees who will benefit from this grant.

The exercise price of these stock options is Rs 9 per stock. Previously, Paytm had granted 3.97 million new ESOPs worth Rs 277 crore to its employees, along with allotting 177,114 equity shares to vested option holders. It was clarified that the newly allotted ESOPs were part of Paytm’s existing stock option pool.

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