Fintech firm One97 Communications’ managing director and chief executive officer Vijay Shekhar Sharma has voluntarily surrendered 2.1 crore shares worth about Rs 1,800 crore, as per a regulatory filing and share closing price of the company.
IMAGE: Vijay breaks down while delivering a speech during the IPO listing ceremony at the BSE. Photograph: Niharika Kulkarni/Reuters
The shares were granted to Sharma as part of ESOP (employee stock ownership plan) at the time of listing of One97 Communications, which owns Paytm brand.
It will now return to the ESOP pool under One 97 Employees’ Stock Option Scheme, 2019.
“Vijay Shekhar Sharma, chairman, managing director and chief executive officer of the company vide letter dated April 16, 2025 has informed the company that he has voluntarily forgone all 2,10,00,000 (Two Crore Ten Lakhs) ESOPs granted to him under One 97 Employees Stock Option Scheme, 2019, with immediate effect,” the filing said.
Based on the Paytm share closing price of Rs 864.5 apiece, the ESOPs are valued at Rs 1,815.45 crore.
“This will result in a one-time, non-cash, acceleration of ESOP expense of Rs 492 crores in the fourth quarter of financial year 2025, and an equivalent lowering of ESOP expenses in future years,” the filing said.
The ESOP expenses are notional value recorded in books as per accounting rules.
