Paytm parent company, One97 Communications Limited, has announced the allocation of over 4 lakh equity shares to its employees under the Employee Stock Option Plan (ESOP).
This move is part of Paytm’s ongoing commitment to incentivize and retain its top talent, especially in a competitive market environment.
ESOP Allocation Details and Impact
The company has issued 4,05,190 equity shares of face value INR 1 each to eligible employees upon the exercise of vested options under the ESOP 2019.
This recent allotment has increased Paytm’s issued and paid-up equity share capital from INR 63,67,32,639 crore to INR 63,71,37,829 crore.
In October, Paytm had also expanded its ESOP pool by granting an additional 4.81 lakh stock options to employees.
ESOPs are a crucial part of Paytm’s strategy to motivate and retain its workforce. By offering equity shares, the company aims to align the interests of its employees with its long-term growth objectives.
The recent appreciation of Paytm’s stock price by 4.5% has added value to these shares.
It has resulted in making them an attractive long-term incentive for employees.
The ESOP allocation is expected to boost employee morale and foster loyalty within the organization.
The company’s leadership believes that this initiative will help in retaining top talent and driving the company’s growth.
Recent Developments at Paytm
The ESOP allocation comes at a time of significant changes within the company.
Recently, Paytm’s Chief Product Officer, Shreyas Srinivasan, departed from the company, and its ticketing platform, Insider.in, was acquired by Zomato.
These developments highlight the dynamic nature of the company’s operations and its continuous efforts to adapt and grow.
Paytm’s decision to allocate over 4 lakh shares to its employees reflects its commitment to talent retention and reward.
By offering equity shares, Paytm aims to motivate its workforce and align their interests with the company’s long-term success.
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