India: Paytm seeks shareholders' nod to expand ESOP pool before IPO

FILE PHOTO: A worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. REUTERS/Amit Dave

In a notice to its shareholders on Monday, One97 Communications Ltd (OCL), the parent which owns Paytm, said that it will be expanding its employee stock ownership plan (ESOP) pool, and will be holding an extra-ordinary general meeting (EGM) on September 2 to seek their approval.

As a part of the letter, Paytm said that it looks to alter One 97 Employee Stock Option Scheme 2019 by more than doubling its existing ESOP pool from 24,094,280 equity options to 61,094,280 equity options at a face value of 1 each.

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