Paytm Grants 1.7 Million Stock Options To Eligible Employees

Paytm has granted 1.7 million stock options to eligible employees as part of its employee stock ownership plan (Esop) 2019. 

According to the filing made on 21 July, the company's nomination and remuneration committee (NRC) has approved the issuance of these stock options.

Each stock option is convertible into one fully paid up equity share with a face value of Rs 1 each. The exercise price has been set at Rs 9 per stock option. Based on Paytm's opening share price of Rs 851.5 apiece on 21 July, these stock options would be collectively valued at Rs 145.3 crore. However, the actual amount received by an employee upon exercising these options will depend on the stock price at the time of exercise.

In a separate disclosure, Paytm mentioned that it has also canceled 53,250 stock options, in accordance with the terms and conditions of the Esop 2019.

Last year in May, Paytm had granted 3.97 million new stock options to employees under the One97 Employees Stock Option Scheme 2019 (Esop 2019) at an exercise price of Rs 9. Additionally, the company had allotted 177,114 equity shares to employees who had vested their options.

The recent granting of stock options comes at a time when Paytm's stock price has been showing remarkable growth in recent months. The stock's current 52-week high stands at Rs 915, indicating a significant revival from its 52-week low of Rs 439.