New Delhi: Supam Maheshwari, Co-Founder and CEO of mom and youngster care e-commerce platform FirstCry, has seen his month-to-month remuneration drop not less than 49 per cent to Rs 8.6 crore, as per the corporate’s revised Draft Pink Herring Prospectus (DRHP).
FirstCry has refiled its DRHP for an Preliminary Public Provide (IPO) with the Securities and Alternate Board of India (SEBI), to boost Rs 1,816 crore by way of recent situation of shares.
For the primary three quarters of FY24, Maheshwari’s remuneration per thirty days dropped to Rs 8.6 crore, in comparison with Rs 16.7 crore in the identical interval within the earlier fiscal yr (FY23).
On the subject of complete remuneration (together with short-term employment advantages, inventory and different long-term employment advantages), Maheshwari obtained Rs 77.5 crore within the first three quarters of FY24, from Rs 200.7 crore for FY23, based on the revised DRHP.
Sanket Hattimattur, FirstCry’s different co-founder and chief of workers, obtained Rs 8.3 crore for the primary three quarters of FY24, from Rs 18.5 crore for FY23.
Gautam Sharma, the corporate’s chief monetary officer, obtained Rs 1.6 crore within the first three quarters of FY24, from Rs 4.8 crore in FY23.
In January, reviews surfaced that Maheshwari offloaded 6.2 million shares price round Rs 300 crore previous to submitting for the corporate’s IPO.
In accordance with the sooner DRHP filed in December final yr, Maheshwari has offloaded 9.34 million shares throughout six months earlier than the date of submitting of the IPO papers.
 with the Securities and Exchange Board of India (SEBI), to raise Rs 1,816 crore via fresh issue of shares.){kind=link}