Zomato Rewards Employees with ₹330 Crore in Stock Options

7 Oct 2024 , 11:17 AM

Food delivery platform, Zomato has granted 1,19,97,768 stock options to eligible workers through its Foodie Bay Employee Stock Option Scheme 2014 (ESOP 2014) and Zomato Employee Stock Option Scheme 2021. On October 2, 2024, the company made the announcement in a BSE filing.

According to the filing, Zomato’s Nomination and Remuneration Committee approved the grant via a circular decision. The corporation indicated that the stock options can be exercised within 10 years of inclusion or 12 years of listing. This includes all options under the ESOP 2014 and ESOP 2021.

Each stock option equals one fully paid equity share with a face value of ₹1. With Zomato’s current share price of ₹275.20, the total value of the awarded stock options is ₹330.17 crore.

On October 2, Zomato’s stock rose by 2.38%, showing a good market reaction to this move.

Employee Stock Option Plans are an important instrument for connecting employees’ interests with the company’s growth. The company stated that this stage is critical to keeping the workforce motivated and invested in Zomato’s growth.

Zomato’s purpose is to make people’s lives happy every day. Zomato, founded in 2008, provides services such as restaurant discovery and reviews, home delivery of food, online table reservations, and digital payments for dining out. It also collaborates with restaurant partners to provide tools that help businesses interact and acquire new consumers, as well as a last-mile delivery service and a one-stop procurement solution for foods and kitchen products called Hyperpure.

For feedback and suggestions, write to us at [e-mail]