Paytm founder could see his stake go up by 2-4% in parent firm ahead of IPO
Paytm founder Vijay Shekhar Sharma could see his stake go up One97 Communications, the mother or father firm of the digital payments platform. Sharma, who holds close to 14.6 for each cent in One97, could see his stake raise by yet another 2 to four for each cent, said sources in the know.
“Vijay had in the past supplied four for each cent of his equity just before forming Paytm’ ESOP pool was produced. So technically, until someday back again, people today obtained his shares as their ESOPs,” said a source informed of the details on affliction of anonymity.
In August this year, the firm had doubled its ESOPs pool from 24,094,280 to sixty one,094,280, this was accredited by shareholders previously this thirty day period. “Vijay has by no means taken any ESOPs in the past. The present shareholders see this as a reward for the extraordinary operate he has carried out in developing a payments and fiscal solutions leader in Paytm,” said yet another source near to the development.
These changes arrive as the firm has submitted the draft pink herring prospectus (DRHP) for an IPO that intends to raise in excess of $2 billion.
Sharma is recognized to be offloading some of his stake in the firm via offer for share (OFS). With this, having said that, he will manage to maintain a substantial stake in the firm.Some of the other buyers like Alibaba Team, Ant Team, Softbank and other are also offloading some part of their holdings in the firm.
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