IPO-bound Paytm has one of the largest ESOP pools in the startup ecosystem and has given out ESOPs as rewards and benefits to employees, who have contributed to the growth of the company
As many as 166 currents and former Paytm employees have converted their Employee Stock Options (ESOPs) into shares, the company said in a regulatory filing.
IPO-bound Paytm has one of the largest ESOP pools in the startup ecosystem and has given out ESOPs as rewards and benefits to employees, who have contributed to the growth of the company.
Paytm has a total paid-up capital of Rs 60,69,41,722, with as many as 909 employees who have vested ESOPs with an approximate 14 million options vested.
To attract and retain talented professionals, Paytm last year amended certain aspects of its ESOP policy, introducing performance-based ESOPs.
Earlier, Paytm had written to its shareholders that employees who hold ESOPs will be able to turn them into shares and add them to their Demat account. Given that turning ESOPs into shares comes at a cost and the employees also have to bear the tax amount for the same, Paytm will help employees get loans from its established lending partners, making it easier for employees to bear the cost of becoming a shareholder.
Paytm will facilitate loans of up to Rs 100 crore through its lending partners.
Additionally, Paytm will bear the interest of these loans for six months, so that employees are able to handle their finances better and yet, become proud shareholders of the company.
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