When One97 Communications, which owns Paytm brand, went public, the shares were granted to Vijay Sharma as part of ESOP (Employee Stock Ownership Program).
Vijay Shekhar Sharma, MD and CEO of One97 Communications, voluntarily surrendered 21 crore shares worth approximately Rs 18 billion, according to the company’s regulatory documents and the stock closing price. When One97 Communications, which owns Paytm brand, went public, the shares were granted to Sharma as part of the ESOP (Employee Stock Ownership Program). It will now return to the ESOP pool under the 2019 97 employee stock options plan. The decision comes months before SEBI’s display reasons notice issued by Sharma’s ESOP unit, ahead of its initial public offering (IPO). Now Paytm will generate a non-cash accelerated ESOP fee acceleration Rs 492 crore in the fourth quarter of FY25.
“On April 16, 2025, Vijay Shekhar Sharma, chairman of the company, informed the company that he voluntarily forgot all 2,100,000 (20 crore crore ESOPS) that the company awarded his 97 employees in 2019, with direct effects,” the application. According to Paytm’s stock closing price of Rs 864.5, the ESOP is worth Rs 181.545 crore. The document said: “This will result in a one-time non-cash acceleration of ESOP spending in the fourth quarter of 2025 and a equivalent reduction in ESOP spending in the coming years.” ” ESOP fees are the conceptual value recorded in books according to accounting rules.
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(Input with PTI)
