Paytm CEO will get stock grants once market cap recovers to IPO levels

'We should be operating Ebitda-break-even in the next six quarters, well ahead of estimates by most analysts,' Vijay Shekhar Sharma wrote

Paytm Founder and Chief Executive Officer (CEO) Vijay Shekhar Sharma will receive his stock grants only after the company’s market capitalisation (m-cap) stabilises at its initial public offering (IPO) level, the financial technology (fintech) major said on Wednesday.

Paytm’s stock price has been in free fall since its IPO at Rs 2,150 apiece, with m-cap at around Rs 1.4 trillion — plunging 76 per cent to a lifetime low of Rs 520 on March 23, when m-cap dropped below Rs 34,000 crore.

Since then, the company’s share price on the BSE has recovered some value and closed at Rs 637 on Wednesday.