Zomato delivery’s stakeholder relationship committee has accepted the allotment of 170,676 shares against the bodybuilding of vested employee stock options granted underneath its employee stock ownership plan (Eson) of 2012 than 2020, the new-age logistics company said in a regulatory shaving.
The company has projected a charge of Rs 566 crore on Esops that are already settled over the next five years, of which Rs 282 crore is the likely cost for the ongoing fiscal year.
As of September 30, the Gurugram-based business had 34.65 million Esops, of which 30.24 million are unvested.
In addition, the company has 43.45 million ungranted Esops, in place of almost 5.4% of its shareholding.
Through its second-quarter earnings call in November, Delhivery’s chief fiscal officer Amit Agarwal said that an important majority of the 43.45 million shares will vest alone if the company’s stock price grasps Rs 800, Rs 1,000, and Rs 1,200.
On Friday, Zomato shares were overtrading at Rs 320.70 apiece.
For the share of 170,676 shares, Delhivery’s stock options have been trained within a range of 10 paise per share to Rs 29.85 per share.
Delhivery’s revenue for the second sector grew 19% year on year to Rs 1,796 crore, while losses pointed 60% to Rs 254 crore from a loss of Rs 635 crore in the consistent period last year.
Through the September quarter, the company’s Zomato Esopus expenses towards arranged options stood at Rs 79 crore, since Rs 70 crore in the quarter ended June 30.
Last month, the logistics company accepted the grants of 46,219 Esops under the Delhivery Employees Stock Option Plan 2012. It also permitted and allotted 12,55,568 equity shares of the face value of one rupee respectively in the same month — of which 6,82,168 were underneath its 2012 Esops plan, and the outstanding 5,73,400 below its 2020 Esops plan.
Tech businesses and startups typically turn to Esopus to appeal to and retain the best talent by pegging a part of their recompence to the company’s stock price.