Start-up leaders reap pre-IPO windfall, never mind post-listing fate

Delhivery, Paytm, Zomato, Policybazaar saw a sharp spike in the packages of 'key management personnel' in the year they filed their RHP

* At Paytm, Vijay Shekhar Sharma and his top team saw a 50 per cent jump in remuneration in 2021-22

* The Deepinder Goyal-led management at Zomato saw its compensation rise 404 per cent in 2020-21, in part because the CFO was added to the key management KMP pool

* The top management at Delhivery, led by co-founder and CEO Sahil Barua, took home 540 per cent higher remuneration in 2021-22

Those are the years in which these start-ups filed their red-herring prospectuses (RHP) with the Securities and Exchange Board of India (Sebi), the stock markets regulator. The increase