ETtechETtechETtechOne97 Communications, which owns digital payments company Paytm , is targeting an operational breakeven by the end of September next year, founder Vijay Shekhar Sharma wrote in a letter to shareholders. “Against the backdrop of volatile market conditions for high-growth stocks globally, our shares are down significantly from the IPO price. In September last year, ET reported that a significant chunk of the new stock options would go to Sharma. He owns 15% in the company after the IPO.“These Esop grants are deep in-the-money (exercise price of Rs 9 vs IPO price of Rs 2,150). The brokerage firm’s most recent price target for Paytm, as of last month, was Rs 450.Sharma sold shares worth Rs 402 crore during Paytm’s IPO.

Source: Economic Times April 06, 2022 20:44 UTC