Paytm’s parent One97 Communications’ board has approved an allotment of 84,793 equity shares under its employee stock option schemes.

In an exchange filing on Sunday (March 9), Paytm said that its board approved the allotment of the equity shares at a face value of INR 1 each to eligible employees upon exercise of vested options under the Employee Stock Option Scheme 2019 and Employee Stock Option Scheme 2008.

While 84,377 shares were allotted under ESOP 2019, 416 shares were allotted under ESOP 2008. The exercise price for the allotted shares is INR 9 per share.

With the fresh allotment, the issued, subscribed and paid-up equity share capital of the company has increased to INR 63,77,52,264 (63.77 Cr) from INR 63,76,67,471 (63.76 Cr) earlier.

As per the stock’s closing price on Friday (March 7), the newly allotted equity shares are worth INR 5.8 Cr.

Shares of Paytm were trading over 2% lower at INR 670.25 per share on the BSE at 10:21 AM on Monday (March 10).

(The story will be updated soon.)

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