
PayU India employees can’t cash out shares – and there’s no IPO in sight till mid-2026
09 Jul 2025, 11:13 PMAccording to internal data reviewed by The Head and Tale, the fair value of SARs under multiple PayU-linked schemes has plunged sharply by 30-60% yoy.
Arti Singh
The value of stock appreciation rights (SARs) allocated to PayU India employees has taken a significant hit over the past financia
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The author is Founder and Editor of The Head and Tale. She can be reached at
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Tweets @artijourno