Bangalore IPO-bound One97 Communications Ltd., which owns the Paytm brand, is adding former KPMG partner Rajendra Nalam as senior vice president of its corporate finance function, two persons familiar with the discussions told Mint.
Nalam is expected to join the company next month of paytm New initiatives, special projects, joint ventures and acquisition strategies, both individuals confirmed on condition of anonymity. He will also focus on raising Paytm’s capital and liaising with business leaders to help with the strategy, and will report to the company’s group chief financial officer (CFO).
In his most recent role, Nalam was a partner with KPMG’s mergers and acquisitions, tax and private equity business in Gurugram.
“Nalam’s role at Paytm will be strategic as he will work with Paytm’s Chief Financial Officer and Legal Advisor as well as business heads to help resolve the issue and formulate future strategies. However, their main focus will be to look into Paytm’s acquisitions and joint ventures, as well as help in restructuring and structuring deals.”
“Nalam is likely to join Paytm next month,” said the person.
Another person said that Nalam Group would report to CFO Madhur Deora.
According to his LinkedIn, Nalam has nearly 25 years of consulting experience and has worked with firms including BMR Advisors, Ernst & Young as well as Arthur Anderson.
Paytm declined to comment on Mint’s queries on the matter. Nalam did not respond to messages and calls till press time.
Nalam’s appointment comes at a time when Paytm has seen some lull in its senior leadership, which this year includes Chief Human Resource Officer Rohit Thakur and President Amit Nayyar. In February, Paytm’s marketing head Jaskaran Singh Kapani left the company after a stint of nearly six years.
In July, One97 Communications sought approval from markets regulator Securities and Exchange Board of India. ₹16,600 crore IPO, which is expected to be one of the biggest initial share sale in the country so far.
As part of the IPO, India’s second most valuable startup will sell fresh shares ₹8,300 crore, the company said in its draft share sale documents. In addition, existing shareholders will sell other shares ₹8,300 crore through IPO.
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