![]() ![]() ![]() If that happens the size of the fresh issue will be adjusted accordingly, the DRHP says.ĭon’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. IPO-bound Paytm employees add 5.45 lakh more shares for monetisation By PTI S6:46:14 PM IST (Published) As per a regulatory filing by One97 Communications (OCL), about 20 more employees have converted their ESOPs into a total of 5,45,735 shares. The company may also consider a pre-IPO funding round of up to Rs 2,000 crore. ![]() The stock offering will comprise a fresh issue worth Rs 8,300 crore ($1.1 billion) and a secondary issue or an offer for sale (OFS) of the same size, Paytm has told Sebi. New Delhi: Payments major Paytm, which is IPO-bound, expanding the employee stock ownership plan (ESOP) pool with 3.7 crore shares through an extraordinary general meeting on September 2. Ajay Shekhar Sharma, brother of Paytm’s founder and chief executive (CEO) Vijay Shekhar. IPO-bound Paytm sends offer for sale to employees, to file draft. Paytm is looking to raise 2.2 billion through its IPO, reportedly at a valuation of 25-30 billion. Paytm in July had filed a draft red herring prospectus with the markets regulator, the Securities and Exchange Board of India ( Sebi), to raise Rs 16,600 crore ($2.2 billion) through a public issue in what will be one of the biggest Indian IPOs in at least a decade.Īlso Read: Paytm and the art of going public Paytms board has given an in-principle approval to raise around Rs 22,000 crore through IPO, one of the largest in India. Details: The Zurich-based reinsurance giant is looking to acquire a 20-25 stake in the venture with an initial capital commitment of around 100 million, sources told us. Among growth-stage startups, ESOP plans are seen as an effective way to attract, retain and reward workers in a highly competitive talent market. IPO-bound Paytm is in the final stages of talks to bring on board Swiss RE as a strategic partner in its insurance business. Paytm has reported the highest gross merchandise value of Rs 4. In 2021, startups such as Zerodha, Razorpay, Cred, Acko, Udaan have given their employees windows to cash their stock options as valuations of India’s internet startups continue to rise rapidly.ĮSOPs are an employee benefit plan that gives the firm’s employees ownership in the company in the first of stock options. Paytm is also facilitating loans of up to Rs 100 crore through its lending partners and will also bear the interest of these loans for six months so that employees can handle their finances better and yet become proud shareholders of the company. Paytm shares soar to yearly high on robust operational performance and growth. Paytm’s ESOP expansion comes at a time when several leading tech and internet startups have offered lucrative buyback windows to help employees vest their options. Big whale adds exposure to IPO-bound stock, turns bearish on IT company. ![]()
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