Paytm's key management personnel likely to be named in its DRHP

Paytm's wholly-owned arms are also being run by key leaders, including Varun Sridhar, who heads Paytm Money, Satish Gupta (Paytm Payments Bank) and Vineet Arora (Paytm General Insurance)

Initial public offering (IPO)-bound Paytm has strengthened its leadership team, identifying nine key managerial personnel who are likely to feature in its draft red herring prospectus (DRHP), expected later this month.

These include President and Group CFO Madhur Deora; chief financial officer Vikas Garg; head of offline payment Renu Satti; head of lending business Bhavesh Gupta; head of online payments, Praveen Sharma; CEO of Paytm Labs, Harinderpal Singh Takhar; chief operating officer Sudhanshu Gupta; chief technology officer, payments, Manmeet Dhody; and President - Compliances and Operations Deepankar Sanwalka.

As per Securities and Exchange Board of India regulations, the DRHP or offer document is required to have details such as names, qualifications, designations about directors, promoters and key management personnel.

Deora is former Managing Director of Citigroup Investment Banking, and a graduate of Wharton School. He has over 20 years of investment banking experience.

Garg also comes with over 20 years of experience in corporate finance, and has been with Paytm for 12 years. He has been instrumental in various fundraising initiatives of the group and setting up of new businesses and mergers and acquisitions, in addition to finance responsibilities.

Satti has been with Paytm for over 14 years and currently heads the company’s offline payments business through Paytm QR, All-in-One point-of-sale (PoS), smart android POS and IoT devices.

Bhavesh Gupta is a banking veteran, and comes with over 24 years of industry experience where he led businesses in ICICI Bank, IDFC Bank  and Clix Capital. Sharma joined Paytm in 2019, after a nine-year stint with Google, where he held leadership roles across India and Asia Pacific. He has also worked at several senior-level positions at major advertising groups like Madison and Group M.

Takhar has been associated with Paytm Labs Inc since June, 2013, and was previously with Paytm Mobile Solutions Private Limited, Research In Motion Limited and Nokia Corporation.

Sudhanshu Gupta leads the gaming vertical at Paytm, and has worked with Flipkart and Pepsico in the past.

Dhody joined Paytm in April last year, after several leadership roles in global firms like Amazon and Microsoft.

The most recent joinee, Sanwalka joined Paytm in May, 2021. Prior to this, he was the Advisory Leader for PwC India and a member of the PwC India Leadership Team, Global and Asia Pacific Americas (APA) Advisory leadership teams. He is a chartered accountant by profession with over 30 years of experience as a business leader.

Paytm’s wholly-owned subsidiaries are also being run by key leaders, including Varun Sridhar, who heads Paytm Money, Satish Gupta, who heads Paytm Payments Bank, and Vineet Arora, who leads Paytm General Insurance.

Sridhar held leadership roles in Finshell India, BNP Paribas, Deutsche Bank, Citibank and others, before joining Paytm.

Satish Gupta has over three decades of experience in banking with State Bank of India and National Payments Corporation of India and was instrumental in issuing several new payment products.

Arora, who has over 25 years of experience, joined Paytm General Insurance Ltd as Managing Director and CEO. Before Paytm, he was the Managing Director and Chief Executive Officer of Aegon Life Insurance Company and part of the India Leadership team.

Paytm is eyeing to raise $3 billion (around Rs 22,000 crore) through its IPO. The IPO plan received in-principle approval for Paytm's Board in May. If successful, this could be the biggest initial public offering (IPO) by an Indian company, breaking Coal India’s 2010 record of  Rs 15,475 crore.