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Shares of digital payments service provider Paytm hit the upper circuit of 20% to Rs 669.6 in Tuesday's trade on BSE after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter

Paytm share price rallies for 2nd day in row

Shares of digital payments service provider Paytm hit the upper circuit of 20% to Rs 669.6 in Tuesday's trade on BSE after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter

Share price of One97 communications, which is commonly known as Paytm extended its rally for the second consecutive day on Tuesday after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter.
In early trade, the stock struck a 20% upper circuit. While the stock has skyrocketed by over 27% in 2 days. Major brokerages globally have raised their target price for Paytm shares after strong Q3 numbers.&nbsp; At the time of writing, Paytm shares soared by 5.09% or ₹28.40 to trade at ₹587 apiece on BSE.&nbsp;
Paytm shares have kicked started the week with a bang post Q3. On Monday, the share price closed at ₹558 apiece up by 6.31% on Dalal Street. So far, in the week, the shares have climbed by at least 27.55% on D-Street. &nbsp;

Paytm CEO may opposition to his salary and his reappointment as advisory proxy firm IiAS is advising funds/shareholders to vote against it in  the upcoming shareholder meeting on August 19. “Since the company’s listing, its stock price has fallen by 63.6% (from the issue price of Rs 2,150), resulting in wealth destruction for shareholders. In FY22, the company reported a cash loss of Rs 1,200 crore and losses in the first quarter of FY23 were high. Sharma has made several commitments in the past to make the company profitable, however, these have not played out. We believe the board must consider professionalising the management,” IiAS said.IiAS estimates that Sharma’s remuneration for FY23 is Rs 796.28 crore, which comprises 21 million stock options at an exercise price of Rs 9. This is a “deep discount” to the market price on the date of grant. He was granted 46.5% of the entire stock option pool, which is equal to 3.2% of the outstanding share capital.
If shareholders approve, Sharma is expected to take home Rs 4 crore in remuneration for the financial year, including benefits such as company-leased accommodation.Paytm’s shares had fallen 63% from the issue price of Rs 2,150 per share, resulting in wealth destruction for shareholders.Institutional Investor Advisory Services (IIAS) is a proxy advisory firm that provides suggestions to funds on how to vote for corporate actions. 
 

Paytm CEO Vijay Shekhar's salary and appointment opposed; Find out why

Find out why IiAS is advising shareholders not to approve Paytm CEO Vijay Shekhar Sharma's salary and reappointment

Shareholders advised to vote against Paytm CEO's reappointment, remuneration

Advisory firm Institutional Investor Advisory Services (IiAS) has opposed Vijay Shekhar Sharma's salary

Paytm CEO may face opposition to his salary and his reappointment as advisory proxy firm IiAS is advising funds/shareholders to vote against it in&nbsp; the upcoming shareholder meeting on August 19.&nbsp; &ldquo;Since the company&rsquo;s listing, its stock price has fallen by 63.6% (from the issue price of Rs 2,150), resulting in wealth destruction for shareholders. In FY22, the company reported a cash loss of Rs 1,200 crore and losses in the first quarter of FY23 were high. Sharma has made several commitments in the past to make the company profitable, however, these have not played out. We believe the board must consider professionalising the management,&rdquo; IiAS said. IiAS estimates that Sharma&rsquo;s remuneration for FY23 is Rs 796.28 crore, which comprises 21 million stock options at an exercise price of Rs 9. This is a &ldquo;deep discount&rdquo; to the market price on the date of grant. He was granted 46.5% of the entire stock option pool, which is equal to 3.2% of the outstanding share capital.
If shareholders approve, Sharma is expected to take home Rs 4 crore in remuneration for the financial year, including benefits such as company-leased accommodation. Paytm&rsquo;s shares had fallen 63% from the issue price of Rs 2,150 per share, resulting in wealth destruction for shareholders. Institutional Investor Advisory Services (IIAS) is a proxy advisory firm that provides suggestions to funds on how to vote for corporate actions.&nbsp; 
&nbsp;

Paytm's Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;feels the actual heat as his e-commerce business,&nbsp;Paytm Mall&rsquo;s valuation drops from $3 Bn to $13 Mn&nbsp;with its lead investors Chinese internet giant, Alibaba and investment firm, Ant Financial taking an exit from the firm.&nbsp;
According to report,&nbsp;Paytm E-commerce bought back the entire stake of Alibaba (28.34%) and Antfin (Netherlands) Holding (14.98%), a total of 43.32%, for&nbsp;₹42 crore.&nbsp;
About Paytm&nbsp;Mall
Vijay Shekhar Sharma had launched Paytm Mall in 2016 to leverage the accelerating online shopping behaviour trend and was able to secure $500 million in a fund-raising round led by SoftBank and other investors giving the company a unicorn tag. In total, Paytm Mall raised $800 million from various investors such as Alibaba, Ant Financial, SoftBank, Elevation Capital (SAIF Partners), and eBay.

Paytm Mall: 99.5% valuation decline as key investors Alibaba, Ant Group exit 

Paytm's Vijay Shekhar Sharma feels the actual heat as his e-commerce business, Paytm Mall’s valuation drops from $3 Bn to $13 Mn. 

Here's the reason  

Paytm Mall's valuation drops from $3 Bn to $13 Mn

Jack Ma was one of the oldest investors in the Vijay Shekhar Sharma-led ecommerce firm, putting in $200 million at a $1 billion valuation in its first fundraise in 2017

Paytm's Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;feels the actual heat as his e-commerce business,&nbsp;Paytm Mall&rsquo;s valuation drops from $3 Bn to $13 Mn&nbsp;with its lead investors Chinese internet giant, Alibaba and investment firm, Ant Financial taking an exit from the firm.&nbsp;
According to report,&nbsp;Paytm E-commerce bought back the entire stake of Alibaba (28.34%) and Antfin (Netherlands) Holding (14.98%), a total of 43.32%, for&nbsp;₹42 crore.&nbsp;
About Paytm&nbsp;Mall
Vijay Shekhar Sharma had launched Paytm Mall in 2016 to leverage the accelerating online shopping behaviour trend and was able to secure $500 million in a fund-raising round led by SoftBank and other investors giving the company a unicorn tag. In total, Paytm Mall raised $800 million from various investors such as Alibaba, Ant Financial, SoftBank, Elevation Capital (SAIF Partners), and eBay.

Paytm's initial public offering is on it's way to Dalal&nbsp;Street as the shareholders have approved the plan at the EGM&nbsp;held on Monday.&nbsp;Here is what has been approved-:

IPO&nbsp;fund raising of Rs 12,000 cr via fresh issue of shares
Secondary fund raising of Rs 4,600 cr; total IPO&nbsp;size of Rs 16,600 cr
Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;will no longer be classified as a promoter&nbsp;
Paytm&nbsp;to apply for IPO&nbsp;as 'no promoter' firm.&nbsp;
Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;to remain Chairman, MD &amp; CEO

21-year old firm that is backed by the Ant Group recently saw a revamp of the board which removal of Chinese nationals and addition of Indian and US citizens. The DRHP&nbsp;is likely to be filed later this week for a Diwali&nbsp;offering.&nbsp;
&nbsp;

Paytm IPO: Here comes the giant fintech offering for Dalal Street

Paytm IPO: Here comes the giant fintech offering of Rs 16,600 crore for Dalal Street

EGM approves IPO&nbsp;plan, Vijay&nbsp;Shekhar&nbsp;Sharma to be not be 'promoter' on the company anymore.&nbsp;

Paytm's initial public offering is on it's way to Dalal&nbsp;Street as the shareholders have approved the plan at the EGM&nbsp;held on Monday.&nbsp; Here is what has been approved-:
<ul>
<li>IPO&nbsp;fund raising of Rs 12,000 cr via fresh issue of shares</li>
<li>Secondary fund raising of Rs 4,600 cr; total IPO&nbsp;size of Rs 16,600 cr</li>
<li>Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;will no longer be classified as a promoter&nbsp;</li>
<li>Paytm&nbsp;to apply for IPO&nbsp;as 'no promoter' firm.&nbsp;</li>
<li>Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;to remain Chairman, MD &amp; CEO</li>
</ul>
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9tvv" target="_blank">You can now pre-book IPO via Paytm Money, just in time for the Zomato order</a>
21-year old firm that is backed by the Ant Group recently saw a revamp of the board which removal of Chinese nationals and addition of Indian and US citizens. The DRHP&nbsp;is likely to be filed later this week for a Diwali&nbsp;offering.&nbsp; 
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9tw2" target="_blank">Startup Digest: Latest from Pharmeasy, MobiKwik IPO, DoSelect Powerplay</a>
&nbsp;

Ahead of it's mega IPO&nbsp;Paytm has undergone a big board reshuffle which as seen the exit of all Chinese nationals from the IPO&nbsp;bound digital merchant. All&nbsp;Chinese nationals representing key investor Ant Group have stepped down and have been replaced by US and Indian citizens.
Majority shareholder China based Ant Group will now be represented on the Paytm&nbsp;board by&nbsp;US citizen Douglas Feagin.&nbsp;Berkshire Hathaway representative Todd Anthony Combs,&nbsp;&nbsp;Saama Capital's Ashit Ranjit Lilani&nbsp;and SoftBank's&nbsp;Vikas Agnihotri&nbsp;join the digital payment board ahead of the IPO.&nbsp;Paytm Board has called for an EGM&nbsp;on July 12 to&nbsp;decide on Rs 16,600 cr IPO.&nbsp;

Paytm IPO: Board reshuffle, Chinese nationals exit Paytm board

Paytm IPO: In a big foard reshuffle, Chinese nationals exit Paytm board ahead of the mega IPO.&nbsp;

Paytm IPO

lets do a gfx on the people joining with who they represent under them on invideo
&nbsp;
&nbsp;

Paytm Board has called for an EGM&nbsp;on July 12 to&nbsp;decide on Rs 16,600 cr IPO.&nbsp;

Ahead of it's mega IPO&nbsp;Paytm has undergone a big board reshuffle which as seen the exit of all Chinese nationals from the IPO&nbsp;bound digital merchant. All&nbsp;Chinese nationals representing key investor Ant Group have stepped down and have been replaced by US and Indian citizens.
Majority shareholder China based Ant Group will now be represented on the Paytm&nbsp;board by&nbsp;US citizen Douglas Feagin.&nbsp;Berkshire Hathaway representative Todd Anthony Combs,&nbsp;&nbsp;Saama Capital's Ashit Ranjit Lilani&nbsp;and SoftBank's&nbsp;Vikas Agnihotri&nbsp;join the digital payment board ahead of the IPO.&nbsp; Paytm Board has called for an EGM&nbsp;on July 12 to&nbsp;decide on Rs 16,600 cr IPO.&nbsp;

Paytm&nbsp;will seek shareholder nod for it's IPO&nbsp;on July 12 as per reports. The payment merchant Paytm&nbsp;is looking to raise Rs 12000 cr which would make it India's largest IPO&nbsp;ever.Paytm, formally called One97 Communications, is also likely at it's EGM&nbsp;decide if founder and chief executive Vijay Shekhar Sharma can be declassified&nbsp;as the&nbsp;promoter. This move will ease the obligations on Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;who currently holds only 15% in the company.&nbsp;Alibaba's Ant Group holds the most stake at 29.71%.&nbsp;In the market for unlisted shares, Paytm&nbsp;share prices soared to as high as Rs 30,000/share before the company announced a bonus bringing it the price to Rs 3,000/share which would be more appealing to retail investors as per reports.&nbsp;But Paytm&nbsp;isn't the only startup&nbsp;lining up for Dalal&nbsp;Street, there a rush for startup&nbsp;IPOs&nbsp;on the anvil. Read also -: Zomato, Nkyaa, Delhivery, Paytm: The IPO&nbsp;choices

Paytm IPO: Board to meet on July 12 to finalise $1.6 bn IPO

Paytm&nbsp;will seek shareholder nod for it's IPO&nbsp;on July 12 , the payment merchant is looking to raise Rs 12000 cr which would make it India's largest IPO&nbsp;ever.

Paytm&nbsp;will seek shareholder nod for it's IPO&nbsp;on July 12 as per reports. The payment merchant Paytm&nbsp;is looking to raise Rs 12000 cr which would make it India's largest IPO&nbsp;ever. Paytm, formally called One97 Communications, is also likely at it's EGM&nbsp;decide if founder and chief executive Vijay Shekhar Sharma can be declassified&nbsp;as the&nbsp;promoter. This move will ease the obligations on Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;who currently holds only 15% in the company.&nbsp;Alibaba's Ant Group holds the most stake at 29.71%.&nbsp; In the market for unlisted shares, Paytm&nbsp;share prices soared to as high as Rs 30,000/share before the company announced a bonus bringing it the price to Rs 3,000/share which would be more appealing to retail investors as per reports.&nbsp; But Paytm&nbsp;isn't the only startup&nbsp;lining up for Dalal&nbsp;Street, there a rush for startup&nbsp;IPOs&nbsp;on the anvil. Read also -: <a href="https://www.editorji.com/story/startup-ipo-rush-nykaa-zomato-paytm-delhivery-1623220694070">Zomato, Nkyaa, Delhivery, Paytm: The IPO&nbsp;choices</a>

vijay shekhar sharma

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