Sebi Issues Notice to Paytm Over MD's Stock Options

Market regulator Sebi issued a notice to One97 Communications, owner of Paytm, about employee stock options granted to MD and CEO Vijay Shekhar Sharma. Paytm clarified that this was not a new development and is in regular communication with Sebi, complying with all regulatory requirements.

Market regulator Sebi has issued a notice to One97 Communications, the parent company of the Paytm brand, regarding employee stock options given to its MD and CEO Vijay Shekhar Sharma during the March 2024 quarter.

Responding to stock exchange queries, Paytm stated that the notice is not new and that the company is in continuous regulatory contact with Sebi to make necessary representations. According to Paytm's FY24 annual results, 2.1 crore ESOPs were issued to Sharma in FY22, and the company had disclosed this in previous financial reports.

The company reiterated that it believes it is compliant with regulations based on an independent legal opinion and stated that there is no impact on its financial results for the year ended March 31, 2024.

(With inputs from agencies.)