While 1,48,243 equity shares will be allotted under ESOP 2019 scheme, the remaining 70 equity shares will be allocated under ESOP 2008 scheme
With this fresh issue, the total paid-up capital of the company has increased to INR 63.75 Cr from INR 63.73 Cr previously
In December 2024, Paytm allotted 2.44 Lakh equity shares to eligible employees while it also set aside additional 4 Lakh stock options in November
Fintech giant Paytm
has allotted 1.48 Lakh equity shares to its eligible employees under various employee stock option plan (ESOP) schemes.
“… We wish to inform that… the Company… approved the allotment of 1,48,313 equity shares having face value of INR 1 each, as fully paid-up, to the eligible employees, upon exercise of vested options,” the company said in an exchange filing.
Under this, 1,48,243 equity shares have been allotted under the ESOP 2019 scheme and the remaining 70 equity shares under the ESOP 2008 scheme. With this fresh issue, the total paid-up capital of the company has increased to INR 63.75 Cr from INR 63.73 Cr previously.
The company has set an exercise price of INR 9 per share. As per the fintech major’s closing price on Tuesday, the new shares are worth over INR 14.57 Cr.
This comes at a time when Paytm has seen a number of developments related to ESOPs in recent months. Last month, the fintech major allotted 2.44 Lakh equity shares to eligible employees under its ESOP 2019 and ESOP 2008 schemes. Additionally, it also set aside 4 Lakh equity shares for its eligible employees under ESOP 2019 in November 2024.
The allotment of the new equity shares comes a week after Paytm’s head of compliance Srinivas Yanamandra resigned from the company to pursue academic research opportunities.
Paytm has been on a rollercoaster ride for the past one year. In January last year, the Reserve Bank of India (RBI) dealt a major blow to it by imposing restrictions on Paytm Payments Bank Limited (PPBL) over “persistent non-compliances” and “continued material supervisory concerns”.
However, Paytm quickly got back on its feet afterwards as it received National Payments Corporation of India’s (NPCI) nod to onboard new Unified Payments Interface (UPI) users in October 2024. The fintech major also trimmed its workforce and sold its entertainment ticketing business to Zomato for INR 2,048 Cr to focus on core digital payments.
On account of the regulatory turbulence, Paytm saw its market share in the UPI ecosystem nearly halve to 7.03% in 2024 from 14.1% in the preceding year.
However, the fintech major has continued to expand its offerings. Paytm recently rolled out UPI Lite automatic top-up facility for daily payments under INR 500, which do not require a pin. The fintech company also rolled out “UPI International” in select overseas markets, facilitating Indian tourists travelling abroad to make UPI payments via Paytm.
Shares of Paytm closed 1.41% higher at INR 982.60 apiece on the BSE on Tuesday (January 7).
