Digital payments enabler Paytm received over 5.45 lakh shares meant for monetisation in its upcoming IPO, from about 20 more employees A regulatory filing by One97 Communications (OCL) shows that 20 more employees converted their Employee Stock Ownership Plan (ESOP) for a total of 5,45,735 shares.
Previously, 200 former and current employees had converted their ESOPs into shares. The recent announcement takes the combined toll to 220.
For 'designated persons' to sell or buy shares, the deadline is September 27, while for key management personnel (KMPs) and selling shareholders, the date is September 22.
The digital services enabler is also facilitating loans of up to Rs 100 crore from its lending partners. To ease the process and aid the employees, Paytm would bear the interest on these loans for six months.
The company has a total paid-up capital of Rs 60,72,74,082, as of September 2021. It is looking for a valuation of around Rs 1.47 lakh crore at the time of public listing.
Paytm has reported the highest gross merchandise value of Rs 4.03 lakh crore in the payments industry.
(With inputs from PTI)