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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The market regulator had sent a show-cause notice to the fintech as promoters are not supposed to be issued ESOPs.
Paytm announced on Wednesday that founder and CEO Vijay Shekhar Sharma has forfeited 21 million stocks granted to him under the fintech company’s employee stock ownership plan. In March last year, the Securities and Exchange Board of India had issued a notice to Paytm over the shares issued to Sharma in the 2021-22 fiscal.
“Acting on the aforementioned voluntary offer, the NRC has consequently treated the unvested ESOPs in question as cancelled and the same have been returned back to the ESOP pool under One 97 Employees Stock Option Scheme, 2019,” Paytm’s parent One 97 Communications said in an exchange …
An NBFC licence and a string of approvals give the fintech firm a fresh shot at relevance. But patchy execution, intense competition and a stagnant core cast doubt on whether it can capitalize on the opportunity.
The fintech’s financial services business has done reasonably well in Q4 FY26. But upping its lending game without the NBFC tag will be a tall task.
The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.
