Shares of Paytm Parent One 97 Communications Limited have dropped by more than 2 percent before trading in the narrow range on Thursday. Founder and CEO Vijay Shekhar Sharma has paid Rs. The stock was focused a day after leaving Rs 492 crore stock options.
In the first phase of trade today, intraday low of Rs. The low of 846.3 has dropped by more than 2 percent. The scrip was trading at 1.68 percent at 2: 18 at 2: 18 at the Benchmark Sensex.
In the last 12 months, the stock has returned 116.94 percent, but the year-to-date terms are below 13.96 percent due to market volatility. Meanwhile, the Sensex has returned 7.54 percent in the last 12 months, while so far the year has been minimal.
Sharma gave back 2.1 million shares, which was allotted to him under Paytm’s 2019 Employee Stock Owner (ESOP) program, the company said in the filing at stock exchanges on Wednesday. The company added that as a result of these shares, ESOP costs will decrease by about 492 crore.
Shares were received before the Paytm founder was declared a company. At that time, to be eligible for the ESOP program, Sharma, which holds 14.7 per cent stake in the company, transferred to 30.9 million shares to Axis Trusteeship Services, which served on behalf of Sharma Family Trust. This brought Sharma’s shareholding below 10 %, he was eligible for the ESOP program and did not get the GED as a promoter.
Subsequently, Market Regulator Sebi issued instructions shown to Paytm in August last year for the rules of rules for giving ESOP.
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