What Indian start-up founders will earn to be public and in the future

CarTrade’s Vijay Sanghvi, with an annual salary of INR 5.21 Cr, made him the highest paid founder

While OYO’s Ritesh Aggarwal has a salary of INR 1.06 Cr, his salary at OYO Singapore as Global CEO as of 2019 has been raised to 4.45 Cr

Vijay Shekhar Sharma, whose Paytm is headed for the country’s biggest IPO at 18,300 INR Cr, takes home 4 INR Cr every year

Along with the celebrations, the refreshing boom season for startups has come. The second half of 2021 has brought some good news for the Indian startup ecosystem, and it’s not about the pricing game. Success is no longer measured by how quickly the new kids on the block turn into unicorns or how much money they collect thanks to the historic VC.

Of course, even for this reason, India has gone down in history. This year, a record 33 unicorns were born in the country and an unprecedented week in April (the second week to be exact), when six companies entered the highly coveted unicorn club.

But start-ups hitting Dalal Street and going through their IPOs are a whole new phenomenon. The ecosystem is no longer a land of high cash consumption and poor exit opportunities that once forced many companies to consolidate or sell back in advance before reaching their full potential.

The situation was reversed when restaurant aggregation and food supplier Zomato, backed by investors such as Fidelity Group, Tiger Global, Mirae Asset Management, Info Edge and others, filed for an Initial Public Offering. Around this time, three more startups were looking to SEBI for their IPO. And all four of them swam.

Last week, the fashion platform Nykaa and Fino’s payment bank went public, and Policybazaar went public this week. While startups submitting their DRHP (Red Herring Prospectus Draft) to SEBI provide insight into their IPO bids, balance sheets, and any legal action taken against them, we also understand what these founders are earning.

Let’s take a look at how much money the founders of recently listed and soon listed startups earn.

Zomato | Deepinder Goyal

Over the years, Zomato has become one of the well-known names. The 24×7 food delivery along with the necessary items during the pandemic made it found a place in most of our smartphones.

The startup filed DRHP in April for an IPO of INR 8,250 and went public on July 14, 2021.

Deepinder Goyal founded Zomato in 2008 with Pankaj Chaddah. In 13 years, the company has grown and serves more than 10,000 cities around the world.

Goyal has been appointed Managing Director and CEO of the company for the next five years until March 23, 2026. base salary INR 3.5 Cr. However, Goyal has voluntarily waived its salary for a period of 36 months from April 1, 2021.

Car trade | Vinay Sanghvi

The CarTrade online car exchange made its debut in August this year. The startup went public to raise INR 2000 in the public market.

Founded in 2009 by Vinay Sangha, former CEO of Mahindra First Choice, and Rajan Mehra, former national head of eBay, CarTrade is India’s multi-channel auto market, offering customers both new and used vehicles through platforms such as CarTrade, Carwale, CarTradeExchange, Shriram Automall, Adroit Auto, Auto Biz and BikeWale.

According to DRHP, Sanghvi takes home 5.21 INR every year, making him the highest-paid founder among the founders who went public or filed their DRHP.

MobiKwik | Bipin Preet Singh, Upasana Taku, Chandan Joshi

Startup Fintech MobiKwik submitted its DRHP in July and wants to source 1,900 INR Cr from the public market. The startup received SEBI’s approval for an IPO at the beginning of last month. The company also entered unicorn club after several of her employees took advantage of the Employee Incentive Scheme (ESOP). The second round was led by former Blackstone India boss Mathew Cyriac.

The startup was founded in 2009 by Bipin Preet Singh and his wife Upasana Taku and together they own approximately 34.52% of shares in the company.

While Singh is the CEO of the company and has a salary of INR 4 Cr, his wife Taku is the COO of the startup and receives the same salary of INR 4 Cr per year.

Chandan Joshi joined Mobikwik in 2018 and is currently the CEO of Payments at Mobikwik. His annual salary is INR 3 Kr.

Payment | Vijay Shekhar Sharma

Paytm is another name that has become widely known for its fast and reliable speed of digital transactions. The company filed DRHP for an IPO of 16,600 INR Cr, which is already the largest IPO in the country, only to increase it to 18,300 INR Cr.

The startup is expected to hit the public market after Diwali in the price range fixed at JPY 2,080-2,150 per share.

According to an MCA application available through Inc42, Sharma’s compensation for fiscal year 21 and fiscal year 22 was 4 INR Cr, including rent, rent and accommodation. In FY2020, he took home INR 3 Cr along with extras and other bonuses.

Nykaa | Falguni Nayar

Mumbai-based fashion platform Nykaa went public on October 28 with a price range of INR 1,085 to INR 1,125. The startup intends to raise funds in the range of INR 4,554.03 – INR 5,351.92 through the public market.

Interestingly, Nykaa is the only startup that enters the IPO where the promoters hold over 51% of the company’s shares.

Former banker Falguni Nayar founded Nykaa in 2012 and currently has a fixed salary of INR 5Cr per year.

Ixigo | Aloke Bajpai, Rajnish Kumar

Ixigo is an online travel portal that offers airline, bus, train tickets with listed hotel prices throughout the company. Le Travenues Technologies, which runs ixigo, filed a DRHP application with the market regulator SEBI in August to source INR 1,600 Cr from the public market.

Ixigo is one of the few startups that make a profit and go public. The startup was founded in 2007 by Aloke Bajpai and Rajnish Kumar. by Elevation Capital, Sequoia Capital, GIC.

Bajpai, who is the president, CEO of ixigo and Kumar who is the co-founder, non-executive director and CPTO of ixigo group, has annual salary INR 1.2 Cr each.

Policy Database | Yashish Dahiya, Alok Bansal, Naveen Kukreja

PB Fintech, which operates the Policybazaar online insurance platform and Paisabaazar online loan aggregator, debuted this week (Nov. 1) at INR 940-980. The offer of 3.45.12.186 shares was subscribed 16.59 times, thus offers for 57.23.84.100 shares were submitted. The offer attracted bids totaling nearly $ 7.53 billion (INR 56,093.64).

According to DRHP, Yashish Dahiya, Co-founder and CEO of Policybazaar, has an annual salary of INR 2.01 Cr, while Alok Bansal, Policybazaar co-founder and chief financial officer receives 1.56 INR Cr per year. Naveen Kukreja, who is the co-founder and CFO of Paisabazaar, has an annual salary of INR 1.22.

OYO | Ritesz Agarwal

Hospitality unicorn OYO filed a prospectus with the market regulator in October and intends to raise INR 8,430 Cr via the public market. OYO Prospectus for Red Herring (DRHP) announced that the startup will issue new shares worth INR 7,000 Cr and a sale offer – relief of shares by selling shares from existing investors – worth 1,430 Cr.

Founded by Ritesh Agarwal, one of the youngest founders in the startup ecosystem, the startup is supported by marquee investors such as Softbank, Microsoft, Airbnb, Lightspeed Ventures.

Under his terms of employment, Agarwal is entitled to a gross wage including Oravel Stays benefits of INR 1.06 Kr.

In addition, as of January 2021, his salary at OYO Singapore, as Global CEO from 2019, has been raised to INR 4.45, which means that his annual salary is INR 5.51.


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