While 2,42,795 shares were issued under ESOP 2019 scheme, the remaining 2,006 shares were allotted under ESOP 2008
As per the stock’s last closing price on Thursday, the new allotted shares are worth INR 23.41 Cr
Paytm share closed Thursday’s trading 1.8% higher at INR 956.5 on the BSE
Paytm’s parent One97 Communications has allotted 2.44 Lakh equity shares to eligible employees under its various employee stock ownership plans (ESOPs).
“… the nomination and remuneration committee of the board of the company, at its meeting held today i.e., December 05, 2024, has approved the allotment of 2,44,801 equity shares having face value of INR 1 each, as fully paid-up, to the eligible employees, upon exercise of vested options,” Paytm
said in an exchange filing.
Of these, 2,42,795 shares were issued under ESOP 2019 scheme and the remaining 2,006 shares were allotted under ESOP 2008.
Following this allotment, the company’s issued and paid-up equity share capital has increased to INR 63.73 Cr (INR 63,73,82,630 to be precise) from INR 63.71 Cr previously.
As per the stock’s last closing price on Thursday, the new allotted shares are valued at INR 23.41 Cr.
This comes at a time when Paytm has been dishing out ESOPs in droves. In November, the fintech major granted 4 Lakh stock options to its employees. Prior to that, it expanded its ESOP pool by granting 4.81 Lakh stock options in October.
Lately, Paytm shares have been on an upward curve. A few days back, the stock hit a new 52-week high at INR 951.90 apiece as multiple brokerage firms gave thumbs up to the company for curbing loss and scaling up revenue.
While UBS raised its price target for Paytm to INR 1,000 from INR 490 per share, Bernstein also increased its price target to INR 1,000 apiece from INR 750 a share earlier.
Recently, Paytm launched a new Unified Payments Interface (UPI) offering, UPI Lite, which allows users to set up automatic top-ups for daily payments under INR 500 that do not require a pin.
Paytm reported a consolidated profit after tax (PAT) of INR 930 Cr in the September quarter (Q2) of the financial year ending March 2025 (FY25), marking a significant turnaround from the INR 292 Cr loss recorded in the same period last year. However, the profit was due to a one-time exceptional gain of INR 1,345 Cr from the sale of its entertainment ticketing business.
Revenue from operations dropped 34% year-on-year (YoY) to INR 1,660 Cr during the quarter from INR 2,519 Cr in Q2 FY24.
Paytm share closed the day 1.8% higher at INR 956.5 on the BSE on Thursday (December 5).