Vijay Shekhar Sharma's Big ESOP Move: A Billion-Dollar Gesture

Vijay Shekhar Sharma, CEO of One97 Communications, voluntarily surrendered 2.1 crore shares worth Rs 1,800 crore that were granted to him under the ESOP at the company's listing. These shares will return to the ESOP pool. This move will cause a one-time ESOP expense of Rs 492 crore.

Vijay Shekhar Sharma, the Managing Director and CEO of Fintech firm One97 Communications, has made headlines by voluntarily surrendering 2.1 crore shares, valued at approximately Rs 1,800 crore. According to a regulatory filing, these shares, initially granted under the ESOP scheme at the time of the company's listing, will return to the ESOP pool.

The move by Sharma, the face behind Paytm, has been confirmed through a letter dated April 16, 2025. He has voluntarily decided to forgo all 2,10,00,000 ESOPs granted under the One97 Employees Stock Option Scheme, 2019, with immediate effect.

This decision will lead to a one-time, non-cash acceleration of ESOP expenses worth Rs 492 crore in the fourth quarter of the 2025 financial year. However, it is expected to lower ESOP expenses in future years, as per the company's filing.

(With inputs from agencies.)