Paytm's Vijay Shekhar Sharma to claim ESOPs once stock back above IPO price: Report

FPJ Web DeskUpdated: Wednesday, April 06, 2022, 12:08 PM IST
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Paytm founder and CEO Vijay Shekhar Sharma was granted ESOPs for the first time since the founding of the company in September 2021 | Wikimedia Commons

Vijay Shekhar Sharma, CEO, Paytm has said that he will be granted his employee stock options (ESOP) only when the market capitalisation of the company crosses the level it was at during the initial public offering, according to a report in Moneycontrol.

The firm had granted ESOPs to Sharma for the first time since the founding of the company in September 2021.

In a letter to shareholders, Sharma said that the fintech firm is committed to building a profitable company and believes that it should be operating EBITDA breakeven in next 6 quarters, LiveMint reported.

“While we will publish our fiscal 2022 financial results in due course, we are encouraged by our business momentum, scale of monetization and operating leverage. We expect this to continue, and I believe we should be operating EBITDA breakeven in next 6 quarters (i.e. EBITDA before ESOP cost, and by the quarter ending September 2023), well ahead of estimates by most analysts. Importantly, we are going to achieve this without compromising any of our growth plans," Paytm's Sharma said.

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