Noida: PayTm has done it!
The Indian e-payment and e-commerce brand Paytm has now become the second most valuable online firm after e-commerce major Flipkart at $10 billion. (approx Rs 64,00 crores).
This comes after 200 employees sold shares from the employee stock ownership plan (ESOP), for about Rs 300crore. Which also means that these 200 employees are now millionaires!
In the latest transaction, fund Discovery Capital is one of the investors that has bought shares from Paytm's parent One97 Communications.
Paytm has been one of the prominent beneficiaries of the government’s move to scrap high denomination notes in 2016. It has seen manifold growth in transactions on its platform as well as expansion in number of users since then.