One 97 Communications Limited has informed the Exchange regarding Approval for Grant of Stock Options under One 97 Employees Stock Option Scheme 2019 ("ESOP 2019")
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Paytm's Nomination and Remuneration Committee approved the grant of 1,23,908 stock options to eligible employees under the ESOP 2019 scheme on January 3, 2026. Each option is convertible into one equity share of face value ₹1, at a very low exercise price of ₹9 per option. The committee also noted that 4,25,702 previously granted stock options have lapsed, likely due to employee exits or non-fulfilment of vesting conditions. The new shares issued upon exercise will not be subject to any lock-in period. The grant follows the SEBI Share Based Employee Benefits and Sweat Equity Regulations, 2021.
This represents a marginal dilution of about 1.23 lakh shares, which is negligible relative to Paytm's overall share base. The lapsed 4.25 lakh options suggest meaningful employee attrition or performance-related forfeitures, which is worth monitoring. The very low exercise price of ₹9 (well below market price) is a standard ESOP practice but means employees gain substantial value on exercise, slightly increasing future share supply and compensation costs.