IPO-bound One97 Communications Ltd., which owns brand Paytm, is roping in former KPMG partner, Rajendra Nalam as senior vice president of its corporate finance function, two individuals aware of the discussions told Mint.
Nalam is expected to join the company next month to overlook Paytm’s newer initiatives, special projects, joint ventures and acquisition strategy, both persons confirmed on condition of anonymity. He will also focus on Paytm’s capital raises and liaison with business heads to help with strategy, and report to the company’s group chief financial officer (CFO.
In his most recent role, Nalam was a partner with KPMG’s merger and acquisitions, tax and private equity business, based in Gurugram.
“Nalam’s role in Paytm will be strategic as he will be working with Paytm’s chief financial officer and legal counsel, as well as business heads to help with problem solving and charting future strategies. However, his major focus will be to look into Paytm’s acquisitions and joint ventures while helping with reorganisation and structuring of deals,” said the first person cited above.
“Nalam is expected to most likely join Paytm next month,” the person added.
Nalam will report to the group CFO Madhur Deora, said the second person.
According to his LinkedIn, Nalam has close to 25 years of consulting experience and has worked with firms including BMR Advisors, Ernst & Young along with Aurthur Andersen.
Paytm declined to comment on Mint’s queries on the matter. Nalam did not respond to messages and calls, until press time.
Nalam’s appointment comes at a time when Paytm has seen some attrition in its senior leadership, this year comprising chief human resources officer Rohit Thakur and president Amit Nayyar. In February, Jaskaran Singh Kapany, Paytm’s head of marketing left the company after a nearly six-year stint.
In July, One97 Communications sought the markets regulator Securities and Exchange Board of India’s approval for its ₹16,600 crore IPO, which is expected to be one of the country’s largest initial share sales to date.
As part of the IPO, India’s second most valuable startup will sell new shares worth ₹8,300 crore, the company said in its draft share sale documents. In addition, existing shareholders will sell stocks worth another ₹8,300 crore through the IPO.
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