The company said that it has granted 3.97 million stock options to the eligible employees. Each stock option is convertible into one fully paid these options up equity share having face value of Rs 1 each.
On a day when former Kerala finance minister Thomas Isaac took to Twitter to raise questions on the reduced market valuation LIC, a senior union government official said the valuation was determined by multiple factors, including future cash flows and global factors impacting the market.
Citi believes there is a lot of potential in Paytm stock and has initiated coverage with a buy rating and a target price of Rs 910 – an upside of over 34 per cent from the current market price.