Zomato Approves 12 Million ESOPs Worth ₹330 Crore for Employees | What You Need to Know

Zomato ESOP grant 2024: Zomato Ltd has agreed to provide qualified employees with nearly 12 million stock options. In a filing report on Wednesday, October 2, the company reported that a total number of 11,997,768 shares would be granted as employee stock ownership plans (ESOPs).

On Friday, the last trading session of this week as Zomato's shares ended the day at ₹275.20 on BSE, the worth of the entire ESOP plan went up to Rs 330.17 crore.

As per the official report, a total of 11,997,652 options will be listed under the "ESOP 2021" scheme and 116 options will be under the "ESOP 2014" scheme.

The company has named these ₹330 crore ESOP Zomato employees stock options as the “Foodie Bay Employee Stock Option Plan.”

ESOPs are treated as compensation to employees for their excellent performance in the company which has also improved the performance of the company and indirectly affected the the market value of the shares.

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ESOPs are company stock options and also act as an incentive. These stock options can be converted into equity shares whenever the holder opts to.

The face value of these Zomato employee stock options 2024 is Rs 1 each and these options can be exercised within 10 years from the date they were granted or 12 years from the date of listing.

This year in July, Zomato already approved giving 40,739,330 stock options and 9,82,980 stock options which covers 35,17,051 equity shares in August.

This employee stock options offer comes at a time when Bengaluru-based rival Swiggy is all set to launch an IPO worth ₹3,750 crore but now the company’s shareholders are planning to raise it Rs 5,000 crore more.

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