The strike price of these stock options is Rs 9 each, the company informed the exchanges.
Shares of One97 Communications were trading at Rs 559.8 each in Monday morning trading, down 1.47% since the market close on May 6. Since going public in November last year, One97 shares have been pummeled, down 74% from the IPO price of Rs 2,150 per share.
Credit: Yahoo Finance
It also assigned n. 177,114 shares to employees who exercised their options. One97 did not disclose the people who were granted these stock options in its deposits.
“Following the aforementioned assignment, the issued, subscribed and paid-up share capital of the stand company increased from approximately 220.127.116.112 (consisting of 18.104.22.1682 shares with a par value of Rs 1 each) to approximately 22.214.171.1246 (consisting of 64,87,44,406 shares with a par value of Rs 1 each), ”Paytm said in its filing.
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Prior to its public market listing in November last year,
Paytm has granted new Esops to 166 former and current employees, who were then converted into company shares, resulted from the regulatory documents.
This included President Amit Nayyar, who headed the financial services division at the Noida-based fintech startup. Nayyar resigned in June 2021. Cumulatively, more than one million ESOPs were awarded to mostly senior staff members, at an exercise price of Rs 9 each.
Then, in September last year, Paytm had more than doubled its Esop pool from 24.09 million stock options to 61.09 million options, according to regulatory documents. Last year prior to the company’s listing, approximately 1,000 Paytm employees had acquired 14 million stock options.
In April, the founder of Paytm, Vijay Shekhar Sharma said in a letter to the company’s shareholders that its stock grants will mature only after Paytm’s shares have surpassed the IPO price on a sustained basis.
Macquarie Research said in a February report that 76% of the ESOPS granted by the company prior to its IPO were in Sharma. In September last year,
ET reported that a significant portion of the new stock options would go to Sharma who owns 15% of the company after the IPO.