One97 Communications Ltd., the parent of payments company Paytm, on Tuesday approved the grant of 6,000 stock options under the employee stock option scheme.
The company's nomination and remuneration committee has approved the allotment of the stock options, having a face value of Re 1 each, to eligible employees under ESOP 2019, the company said in a regulatory filing.
Each stock option is convertible into one fully paid-up equity share, with the exercise price per stock option set at Rs 9.
Stock options granted shall be capable of being exercised anytime during the entire period of active employment from the date of vesting of the respective options. In addition, the scheme also states that in the event of any corporate action, like a rights issue, a bonus issue or a stock split, the necessary adjustments will be made in a "fair and reasonable manner.".
One 97 Communications on Tuesday also received an administrative warning from the Securities and Exchange Board of India over unauthorised related-party transactions with Paytm Payments Bank Ltd. in FY22.
Shares of One97 Communications closed 2.46% lower at Rs 458.10 apiece, as compared with a 0.11% advance in the NSE Nifty 50.
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