Vijay Shekhar Sharma Voluntarily Surrenders INR 1,800 Cr Worth ESOPs The expenses related to ESOPs are non-cash and accounted for based on their notional value, as per prevailing accounting standards.
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In a significant move, Vijay Shekhar Sharma, the Managing Director and CEO of One97 Communications, has voluntarily surrendered 2.1 crore ESOPs (employee stock ownership plan), valued at approximately INR 1,800 crore.
According to a regulatory filing, Sharma communicated his decision via a letter dated April 16, 2025.
The ESOPs were originally granted to him at the time of One97 Communications' listing, which owns the Paytm brand. Based on the company's closing share price of INR 864.5, the forfeited ESOPs amount to INR 1,815.45 crore.
"This will result in a one-time, non-cash, acceleration of ESOP expense of INR 492 crore in Q4 FY25," the filing noted. However, it added that the same would lead to a proportional reduction in ESOP expenses in the subsequent years.
The expenses related to ESOPs are non-cash and accounted for based on their notional value, as per prevailing accounting standards.
This move underscores Sharma's long-term commitment to the company and reflects a strategic decision aimed at strengthening Paytm's financials in the near term.
