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What Paytm’s Vijay Shekhar Sharma says on reopening of office

Corporate offices all across the world are slowly reopening after almost two years in the wake of the devastating Covi-19 pandemic. As many firms, including Indian IT offices, are calling their employees back, digital financial services firm Paytm is taking a new approach for its approximately 11,000 employees.

Paytm founder and CEO Vijay Shekhar Sharma on Thursday reportedly said that the company will not require its employees to work from office even when the lockdown and the pandemic is over. Sharma was speaking to reporters during a press briefing after Paytm’s parent company One97 Communications announced its IPO launch date.

Last month, Sharma took to Twitter and shared that the ‘future of work’, especially for technology and knowledge-based companies, will be hybrid – where equal attention will be given to working from office and remote work.

According to the entrepreneur-turned-investor, this decision will be mostly driven by team members. This choice will, in turn, help startups tap talent across India, he had posted.

 

Future of work (for technology/ knowledge companies) will be a choice between hybrid and work from home. Only “working from office is no more an option. It is driven by choice of team members and in turn, effectively able to tap talent across India. https://t.co/8qtcWE0RgW— Vijay Shekhar Sharma (@vijayshekhar) September 16, 2021

Meanwhile, One97 Communications, which operates under Paytm brand name, said earlier today that its IPO will open on November 8 for subscription in the price band of ₹2,080-2,150 apiece, which implies that the firm’s valuation stands at ₹1.44 lakh crore- ₹1.48 lakh crore.

The initial public offer (IPO) subscription will close on November 10.

Paytm plans to raise ₹18,300 crore from the IPO which comprises ₹8,300 crore from issuance of fresh equity and ₹10,000 crore from offer for sale (OFS).

The OFS consists sale of up to ₹402.65 crore by Vijay Shekhar Sharma, up to ₹4,704.43 crore by Antfin (Netherlands) Holdings, up to ₹784.82 crore by Alibaba.com Singapore E-Commerce and up to ₹75.02 crore by Elevation CapitalV FII Holdings.

Further, Elevation Capital V Ltd will offer up to ₹64.01 crore, Saif III Mauritius ₹1,327.65 crore, Saif Partners ₹563.63 crore, SVF Partners ₹1,689.03 crore and International Holdings ₹301.77 crore, as per the IPO document.

 

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