Paytm seeks to more than double its ESOP pool

NEW DELHI: IPO-bound Paytm is planning to more than double its employee stock ownership plan (ESOP) pool, showed a letter sent to the fintech startup’s shareholders for an extraordinary general meeting (EGM) to be held on September 2.

Paytm said it plans to increase the existing ESOP pool from 24,094,280 equity options to 61,094,280 equity options at a face value of Rs 1 each, as it will help the Noida-headquartered company reward and recognise employees that have contributed to the growth of the company. TOI has reviewed a copy of the letter.

ESOP, seen as strategy to attract and retain talent, is an employee benefit plan that allows employees to own shares in the company.