166 convert Paytm ESOPS into shares

Ahead of its much-awaited IPO, Paytm on Tuesday said 166 existing and former employees have converted their Employee Stock Options (ESOPS) into shares.

The digital payment giant has one of the largest ESOP pools in the start-up ecosystem and such options are rewarded to employees who have contributed to the growth of the company.

With a total paid-up capital of over ~60 crore, 909 employees of Paytm have vested ESOPS with about ~1.4 crore options vested. To attract and retain talented professionals, Paytm last year amended certain aspects of its ESOP policy, introducing performancebased ESOPS.

Earlier, Paytm had written to its shareholders that employees who hold ESOPS will be able to convert them into shares and add into their demat accounts. Since conversion of ESOPS into shares comes at a cost and is also taxable, the company will help employees get loans from its established lending partners.