Three proxy advisory firms red-flag Paytm
Institutional Investor Advisory Services India (Iias), two more proxy advisory firms have advised shareholders to vote against the resolutions of One97 Communications
This comes after Inst IAS disagreed with their earlier opinion on reappointment and dual positions stating that there is excessive remuneration given out by them
while also noting other concerns such as lack transparency in how much each position pays versus what they are actually entitled too
Not just Paytm, shares of other startups such as Zomato and Nykaa are down sharply from their highs.
Most companies have been at odds with shareholders on the issue ESOP issuances while SES has an even bigger concern: Sharma holding both positions
Chairman alongwith MD- which could result into excessive remuneration if not separated properly by creating different posts for each requiring expertise/skill set
Shares of Paytm fell 4.7 per cent on Friday to end at Rs 787.
“Considering that the options are exercised at an exercise price of ₹9 per option