As Paytm Lists, Over 350 Employees Set To Become Millionaires

A Paytm lifer who now heads its payments bank, the company's president and group CFO, a former head of Goldman Sachs in Asia and a ex-employee of WhatsApp are among those who will see their wealth grow as One97 Communications Ltd. lists on the exchanges on Thursday.One97 Communications, commonly referred to as Paytm, raised Rs 18,300 crore or about $2.5 billion in an offering which valued the company at slightly over $20 billion.Unlike other recent tech listings though, Paytm's valuation has not seen an exponential increase compared to its last fundraising. The company was valued at $16 billion in 2019, when it last raised $1 billion.Still, founder Vijay Shekhar Sharma and top employees will see their wealth grow.According to disclosures made in the red herring prospectus issued by One97 Communications, Sharma's shareholding will be worth Rs 17,317 crore or $2.3 billion at the upper end of the price band of Rs 2,150 per share. Sharma had become a billionaire in 2017, when the company was valued at $10 billion.Madhur Deora, president and group chief financial officer of Paytm, will see his shares valued at Rs 282 crore ($376 million). This makes Deora the second-largest beneficiary of Paytm's listing, after Sharma.Harinderpal Singh Takhar, chief executive officer at Paytm Labs, is the third-biggest gainer with his shares valued at Rs 273 crore ($364 million). Paytm Labs is the research and development division of Paytm.Vikas Garg, the company's chief financial officer, will see the value of his shares and employee stock options at close to Rs 150 crore.Renu Satti, who started out in the human resources department of Paytm and held a number of roles in the company over the years, will see the value of her shares at Rs 84 crore.Mark Schwartz, a former chairman of Goldman Sachs Asia, and Neeraj Arora, a former WhatsApp executive, who are both on the board of One97 Communications, will also see their wealth rise.Overall, at least 350 current and former employees are likely to see their personal wealth rise above the million dollar mark, a person in the know said on condition of anonymity. Reuters had first reported that 350 people will become millionaires by the time the Paytm stock lists.

As Paytm Lists, Over 350 Employees Set To Become Millionaires

Ahead of its listing, meet Paytm's millionaires.

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