Ajay Shekhar Sharma, brother of Paytm's Founder and CEO Vijay Shekhar Sharma, has been promoted as the Chief Business Officer (CBO) ahead of the company's ₹16,600-crore IPO. Earlier, he was Paytm's Senior Vice President. In draft IPO filing, he was mentioned as Founder's relative, who owned interest in voting power of that group that gave them "control" or "significant influence".