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Paytm's Sharma forgoes 21 mn Esops amid regulator's scrutiny
Mint Mumbai
|April 17, 2025
Paytm said on Wednesday its founder and chief executive officer (CEO) Vijay Shekhar Sharma has forgone 21 million employee stock options granted to him, months after the Securities and Exchange Board of India (Sebi) issued show-cause notices over violation of rules on grant of share-based employee benefits.
In August, the markets regulator determined that the grant of 21 million employee stock options (Esops) to Sharma violated its rules governing share-based employee benefits.
Sharma owned a 14.7% stake in Paytm a year before the company's 2021 public listing. To become eligible for Esop grants, he reduced his shareholding to 9.1% by transferring 30.97 million shares to Axis Trustee Services, which acted on behalf of Sharma's family trust.
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