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Zomato approves 11.9 million employee stock options (ESOPs) for eligible employees.
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The ESOPs are valued at approximately ₹330 crore, with each option carrying a face value of ₹1.
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The move aims to reward and motivate employees amidst heightened competition in the food delivery market.
Zomato has announced the approval of nearly 12 million employee stock options (ESOPs) as part of its compensation and incentive program. The move aims to reward eligible employees and motivate them to contribute to the company’s growth in India’s competitive food delivery market.
The ESOPs, valued at approximately ₹330 crore, are divided into two plans: ESOP 2021 and ESOP 2014. Each option has a face value of ₹1 and can be exercised within 10 years from the vesting date or 12 years from the company’s listing date. The options do not have a lock-in period, giving employees flexibility.
This ESOP grant comes amid intense competition in the online food delivery space, with rival Swiggy preparing for an Initial Public Offering (IPO). Zomato’s move is seen as a strategy to retain talent and drive performance. Previous ESOP grants totalled over 60 million stock options in July and August.
Zomato’s share performance has been positive, with shares closing at ₹275.20 on Friday, October 4, 2024, reflecting a 2.38% gain.
