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Emversity buys back Rs 6.5 Cr ESOPs from 20 employees

EntrackrEntrackr · 5d ago
Emversity buys back Rs 6.5 Cr ESOPs from 20 employees
Medial

Emversity buys back Rs 6.5 Cr ESOPs from 20 employees Higher-education embedded training and employability platform Emversity has bought back employee stock options worth Rs 6.5 crore from 20 employees as part of a liquidity programme. The buyback was extended to employees who joined the company on or before January 31, 2024. According to the company’s HR leadership, Emversity currently has more than 700 employees and operates across 24 states through over 60 locations in India. The development comes soon after Emversity’s $30 million Series A round led by Premji Invest. Emversity is operated by Beyond Odds Technologies, which was launched in April 2024 by Vivek Sinha, former COO of Unacademy, with an initial $11 million seed round led by Matrix Partners India and Lightspeed. Soon after the launch, Emversity had raised $5 million in a pre-Series A round led by Lightspeed and Z47. It also runs employer-linked skill centres, particularly in healthcare and hospitality, in affiliation with the National Skill Development Corporation (NSDC). In less than two years, Emversity claims to have scaled to 4,500 learners across 40 campuses. Its programs are designed with employers to create predictable talent pipelines, especially for sectors facing workforce shortages. The brand currently supports healthcare and hospitality roles, with learners placed across large hospital chains and hotel groups.

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PolicyBazaar’s parent to grant Rs 644 Cr worth ESOPs to employees

EntrackrEntrackr · 3m ago
PolicyBazaar’s parent to grant Rs 644 Cr worth ESOPs to employees
Medial

PolicyBazaar’s parent PB Fintech has rolled out a fresh grant of employee stock options (ESOPs) covering 35 lakh equity shares across its various ESOP schemes, according to filings accessed from the stock exchanges. This move reflects the company’s continued focus on employee retention and long-term value creation. The company’s Nomination and Remuneration Committee approved the grant of 35.11 lakh stock options to eligible employees under the ESOP 2024 plan. Considering PB Fintech’s current share price of Rs 1,835, the newly granted ESOPs carry an approximate value of Rs 644 crore or $72 million. In a significant business development, PB Pay Private Limited, a wholly owned subsidiary of the InsurTech firm, has received in-principle approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. This marks a strategic step for PB Fintech, potentially strengthening its presence in the digital payments and financial services ecosystem. Separately, PB Fintech has also secured board approval to infuse Rs 696 crore (around $80 million) into its subsidiary PB Healthcare Services Pvt Ltd. The capital infusion aims to accelerate the growth of its healthcare-focused business and enhance operations in India’s expanding health services sector. In the second quarter of the ongoing fiscal year, the parent, PB Fintech’s revenue from operations grew 20% to Rs 1,613 crore in contrast to Rs 1,348 crore in Q2 FY25. Meanwhile, the company's profit spiked by 2.6X to Rs 135 crore in Q2 FY26 from Rs 51 crore in Q2 FY25. PB Fintech’s stock is trading at Rs 1835 (as of 10:20 AM) on the NSE, giving it a total market capitalization of Rs 84,553 crore (approximately $9.5 billion).

Urban Company announces ESOP secondary sale worth Rs 203 Cr for 446 employees

EntrackrEntrackr · 1y ago
Urban Company announces ESOP secondary sale worth Rs 203 Cr for 446 employees
Medial

Home service marketplace Urban Company has announced its largest employee stock secondary sale worth Rs 203 crore (nearly $25 million). This is the fifth ESOPs buyback wherein 446 employees have participated, according to the company’s press statement. As per Urban Company, beneficiary employees are between 23 and 56 years old, with 28% of beneficiaries being women. This sale will give the company’s employees an opportunity to liquidate their vested stocks. Dharana Capital (an offshoot of existing investor Vy Capital), along with existing investors Vy Capital and Prosus will be purchasing these shares from former and current staff. To date, Urban Company has granted ESOPs to 1,593 employees and around 784 of them participated in five buybacks, liquidating ESOPs worth Rs 306 crore ($37 million). The Abhiraj Bhal Singh-led company did its last ESOP liquidity program in December 2021 at a valuation of $2.8 billion. The company did not disclose the valuation of the latest buyback. However, Entrackr’s sources outline that the fresh buyback is happening at a valuation of around $2.2 billion to $2.5 billion. Just ahead of the fourth buyback, Urban Company achieved unicorn status in June 2021. It hasn’t raised any external capital since then. According to the startup data intelligence platform TheKredible, Urban Company posted a revenue of Rs 637 crore in FY23 and managed to reduce its losses by 40.1% during the fiscal year. The buyback of ESOPs came a month after it turned profitable at PBT (profit before tax) level. On a consolidated basis in April, the company posted PBT of Rs 7 crore. Entrackr had exclusively reported the development earlier this month. The company also expects its operations in UAE to become profitable in the coming months. As per sources, Urban Company is preparing for a public listing which is likely to happen in the second half of next year (2025).

Paytm grants 1.24 lakh ESOPs worth Rs 16.6 Cr

EntrackrEntrackr · 2m ago
Paytm grants 1.24 lakh ESOPs worth Rs 16.6 Cr
Medial

Paytm grants 1.24 lakh ESOPs worth Rs 16.6 Cr One 97 Communications, the parent entity of Paytm, has approved a fresh grant of 1,23,908 stock options to eligible employees under its ESOP Scheme 2019, according to a stock exchange disclosure. Considering Paytm’s last traded share price of Rs 1,340, the newly granted ESOPs carry an approximate value of Rs 16.6 crore. Last month Paytm Payments Services Limited (PPSL), a wholly owned subsidiary of One 97 Communications Limited, received authorisation from the Reserve Bank of India to operate as a payment aggregator for physical or offline payments and cross border transactions, according to a regulatory filing. With this authorisation, PPSL holds payment aggregator approvals across online, offline, and cross border segments. The company said the approval enables it to offer payment aggregation services across multiple use cases for merchants. The company reported revenue from operations of Rs 2,061 crore in Q2 FY26, up from Rs 1,659 crore in the year ago period. However, its net profit fell sharply to Rs 21 crore from Rs 930 crore in Q2 FY25, primarily due to the absence of a one time gain in the base quarter and an impairment loss recorded in the latest quarter.

Cleartrip spent Rs 608 Cr on discount and cashbacks for Rs 169 Cr net revenue in FY25

EntrackrEntrackr · 5m ago
Cleartrip spent Rs 608 Cr on discount and cashbacks for Rs 169 Cr net revenue in FY25
Medial

Cleartrip, Flipkart-owned online travel aggregator (OTA), narrowed its losses by 20% in FY25 on the back of 70% revenue growth, though losses remained high at Rs 651 crore. Flipkart-owned online travel aggregator (OTA) Cleartrip improved its financial performance in the fiscal year ending March 2025, with revenue growing 70% and losses declining 20%. However, the company spent over Rs 600 crore on discounts and cashbacks to achieve this scale. Cleartrip’s net operating revenue surged 70% to Rs 169.3 crore in FY25 from Rs 99.7 crore in FY24, according to its annual filings with the Registrar of Companies (RoC). Cleartrip generated Rs 516.46 crore from service income in FY25, recording a 40% growth over FY24. It also earned Rs 248.38 crore from commissions and incentives, along with Rs 12.7 crore from other operating services. However, heavy discounts and cashbacks of Rs 608.2 crore during the year pulled its net operating revenue down to Rs 169.3 crore. On the cost side, employee benefits were Cleartrip’s largest expense, accounting for 27% of total burn. These costs fell 40% in FY25 from Rs 400.5 crore in FY24. This includes Rs 52.65 crore in non-cash ESOP expenses. Excluding ESOPs, spending on salaries and wages stood at Rs 186.6 crore in the fiscal year ended March 2025. Cleartrip spent Rs 102.16 crore on advertising and marketing in FY25, while commissions and brokerage costs surged over 80% to Rs 128.75 crore from Rs 70 crore in FY24. Finance costs also rose 50% to Rs 143.2 crore, and the company incurred Rs 78.65 crore in payment gateway charges. Other overheads, including outsourcing, IT, and legal and professional services, pushed Cleartrip’s total expenses to Rs 885.8 crore in FY25, down over 10% from Rs 990.7 crore in FY24. The Mumbai-based company’s 70% increase in revenue and control in its expenses led the company to cut its losses by 20% to Rs 651 crore in FY25, compared to Rs 810.3 crore, while its EBITDA margin stood at -334.78%. On a unit basis, it spent Rs 5.23 to earn a rupee of operating revenue in FY25 which improved from around Rs 10 in FY24. As of March 2025, the company’s current assets stood at Rs 709.8 crore, including cash and bank balances of Rs 71.6 crore. Cleartrip has become somewhat of an oddity in the Flipkart stable. Flipkart, which made almost Rs 6,400 crores from advertising in FY25, has not really done much with the OTA other than slap it on as a travel offering. But at these margins, does it even make sense? Would Flipkart be better off renting out the space to some other independent travel operator?

Paytm revenue grows 25% and nears Rs 10,000 Cr in FY24

EntrackrEntrackr · 1y ago
Paytm revenue grows 25% and nears Rs 10,000 Cr in FY24
Medial

One97 Communication Private Limited, the parent company of Paytm, scaled 25% year-on-year during the fiscal year ending March 2024. The Noida-based firm, however, managed to maintain EBITDA profitability before ESOP throughout the last fiscal year (FY24). Paytm’s revenue from operations grew 25% to Rs 9,978 crore in FY24 from Rs 7,990 crore in FY23, its annual financial statements disclosed through the National Stock Exchange show. Income from payment services accounted for 62.48% of the total operating revenue, which grew 25% to Rs 6,235 crore in FY24. Meanwhile, income from financial services grew by 30% to Rs 2,004 crore. The remainder income came from marketing and other sources. Paytm also made Rs 547 crore from non-operating activities mainly from interest and gain on financial assets, tallying the total income to Rs 10,525 crore in the last fiscal year (FY24). To the tune of other technology firms, its employee benefits accounted for 39.4% of the overall expenditure. This cost surged 21.5% to Rs 4,589 crore in FY24 from Rs 3,778 crore in FY23. This includes Rs 1,466 crore as share-based payment aka ESOPs cost. Its payment processing charges grew 10.9% to Rs 3,280 crore in FY2. Paytm’s software/tech, marketing cum promotional, legal, and other overheads drove its total expenditure up by 15% to Rs 11,645 crore in FY24 from Rs 10,130 crore in FY23. Note: Paytm has booked Rs 1,465 crore of ESOPs and wrote off Rs 227 crore worth of investments which was made to its associate firm Paytm Payments Bank Ltd (PPBL) after RBI’s action. The decent growth and controlled expenditure helped Paytm to reduce its net losses by 20% to Rs 1,422 crore in FY24. Meanwhile, Paytm maintained its EBITDA profitability before ESOP throughout the year which stood at Rs 559 crore in FY24.

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