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Paytm founder to have protective rights after listing

Paytm founder to have protective rights after listing SECTIONS Share ETtech Paytm founder Vijay Shekhar Sharma Vijay Shekhar Sharma, chief executive officer of Paytm, will have ‘protective rights’ to appoint one member to its board as long as he owns 2.5% equity in the company he founded, a customary regulatory filing ahead of the digital payment platform’s upcoming initial public offering (IPO) showed. This gives the founder sufficient buffer since he currently owns more than 9% of Paytm. These rights have been included in the new shareholding agreement (SHA) signed between Sharma and Paytm last month. As part of the new SHA, Sharma agreed to be no longer classified as the company’s ‘promoter group’.

Fintech firms set for IPOs but face challenges

Fintech firms set for IPOs but face challenges SECTIONS Share Synopsis ETtech India’s fintech sector is set for landmark Initial Public Offerings (IPOs) in the next five months as at least three startups – Paytm, Mobikwik, Policybazaar – are likely to raise up to Rs 28,000 crore ($3.7 billion) through public offers betting on favourable market dynamics where both institutional and retail investors are operating with abundance of liquidity. According to industry experts, successful listings by these fintech companies could trigger a larger number of homegrown fintechs to make their debuts on Indian exchanges in the coming years mirroring the trends set by foreign counterparts listed on Nasdaq of the United States and China’s Shanghai Stock Exchange over the last two years.

FRL-Reliance deal: Will decide if Emergency Arbitrator award valid, enforceable, says SC

FRL-Reliance deal: Will decide if Emergency Arbitrator award valid, enforceable, says SC
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