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Ashish Singh
Finding my self ๐ถโ๏ฟฝ...ย โขย 6m
Big Move by Paytm CEO! Vijay Shekhar Sharma, founder & CEO of Paytm, has voluntarily given up 21 million ESOPs worth over โน1,800 crore. These ESOPs were granted under the 2019 One 97 Employee Stock Option Scheme. This decision follows SEBIโs show-cause notice over alleged violations in ESOP grants to key shareholders. SEBI also flagged misrepresentation of facts before the IPO, which could have influenced the ESOP allocation. By foregoing the ESOPs, the company will record a non-cash ESOP expense of โน492 crore in Q4 FY25โhelping reduce future ESOP costs. Notably, Sharma had earlier cut his stake from 14.7% to 9.1% ahead of the IPO to qualify for the ESOPs.
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