Paytm founder Vijay Shekhar Sharma may see his stake go up One97 Communications, the mum or dad firm of the digital funds platform. Sharma, who holds round 14.6 per cent in One97, may see his stake improve by one other 2 to 4 per cent, mentioned sources within the know.
“Vijay had in the past given 4 per cent of his equity before forming Paytm’ ESOP pool was created. So technically, till sometime back, people got his shares as their ESOPs,” mentioned a supply conscious of the main points on situation of anonymity.
In August this 12 months, the corporate had doubled its ESOPs pool from 24,094,280 to 61,094,280, this was accepted by shareholders earlier this month. “Vijay has never taken any ESOPs in the past. The existing shareholders see this as a reward for the incredible work he has done in creating a payments and financial services leader in Paytm,” mentioned one other supply near the event.
These modifications come as the corporate has filed the draft purple herring prospectus (DRHP) for an IPO that intends to boost over $2 billion.
Sharma is known to be offloading a few of his stake within the firm by way of provide for share (OFS). With this, nevertheless, he’ll handle to carry a considerable stake within the firm.Some of the opposite buyers like Alibaba Group, Ant Group, Softbank and different are additionally offloading some a part of their holdings within the firm.