New Delhi: Paytm, which allows employees to become shareholders before the upcoming Mega Public Offering, will facilitate liquidity to pay stock prices and tax ownership plans for employees (ESOP) through loans to RS 100 Crore.
Digital payments and financial services giants headquartered Noida are heading for IPO $ 2.2 billion, which is the biggest offer in the history of Indian stock markets and has submitted a draft prospectus with market regulators for the same.
ESOP, seen as a strategy to attract and retain talents, is an employee benefit plan that allows employees to have shares in the company.
For an employee, turning ESOPs into stocks comes with exercise prices and payment of taxes.
“Many employees face this problem because most have no reserves to pay for transactions.
We tried to resolve this and were in talks with several lenders,” said a senior executive at Paytm Parent, ONE97 Communications.
PaytM supported by Softbank will help employees get liquidity by facilitating loans from partner loans, making it easier for employees to manage liquidity to become shareholders, he said.
Employees who hold ESOPs will be able to turn them into shares and add them to their fever accounts.
The company, which has provided the biggest ESOPS as a startup in this country amounting to RS 6.1-Crore shares, will bear the full cost of all these loans for six months.
Major Major Payment Steps Present at the time of termination of technology startups in India are at all times height, giving them the opportunity to provide Windows Backback to employees who want to wear their stock options.