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Exclusive: PB Fintech adds new ESOP worth near Rs 2,000 Cr

EntrackrEntrackr · 1y ago
Exclusive: PB Fintech adds new ESOP worth near Rs 2,000 Cr
Medial

Policybazaar and Paisabazaar’s parent PB Fintech has introduced a new ESOP plan worth Rs 1,931 crore (approximately $233 million) under PB Fintech Limited Employees Stock Option Scheme 2024. The board at PB Fintech has passed a resolution to grant 1,14,00,000 employee stock options to its staff, directors and subsidiaries, its regulatory filing accessed from the National Stock Exchange shows. The employee stock under ESOP plan 2024 will be vested after 4 years from the date of granting. According to Entrackr estimates, the new ESOP plan is worth Rs 1,931 crore or $233 million. The above-passed resolution is subject to shareholders approval. PB Fintech has posted Rs 1,010 crore of revenue during the first quarter of the ongoing fiscal year with a steady profit that stood at Rs 60 crore. The firm also showcased robust financial growth with a 34.4% year-on-year revenue increase to Rs 3,438 crore in FY24. Meanwhile, it also turned profitable with Rs 64 crore in the last fiscal year. The ESOP approval was followed by impressive growth in the share price. The firm touched its 52-week high share price of Rs 1,763 on August 20. The company is currently trading at 1,694 (as of 15.37 today) with a total market capitalization of Rs 77,252 crore ($9.3 billion). Last month, the food tech major Zomato also received a shareholder’s nod for its new ESOP plan worth Rs 3,800 crore or $458 million, tallying its total ESOP pool worth $788 million. Among the public companies, Nykaa and TBO Tek also increased their ESOP pool in 2024.

Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees

EntrackrEntrackr · 3m ago
Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees
Medial

Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). HR tech platform Darwinbox has expanded its existing ESOP plan by adding additional employee stock options worth over $20 million. The board at Darwinbox has passed a resolution for approval to add 64,377 options to its existing plan, bringing the total ESOP pool to 1,46,908 options, its regulatory filing with the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). In addition, the company holds 1,13,903 equity shares in its ESOP trust worth about Rs 330 crore ($37.5 million). In total, Darwinbox’s ESOP pool is valued at around Rs 756 crore ($86 million). This ESOP expansion comes on the heels of its Rs 86 crore ($10 million) ESOP buyback in June this year. Hyderabad-based Darwinbox offers a cloud-based HR management platform that covers recruitment, payroll, engagement, talent, and analytics. The company serves more than 1,000 clients, managing 4 million employees across 130 countries. According to the firm, the majority of its revenue comes from Southeast Asia and India. According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR. The Peak XV-backed Darwinbox reported a 48% increase in operating revenue to Rs 333 crore in FY24, while its net losses widened to Rs 191.8 crore. The company is yet to disclose its FY25 financials.

Exclusive: Peak XV-backed Jupiter expands ESOP pool

EntrackrEntrackr · 1y ago
Exclusive: Peak XV-backed Jupiter expands ESOP pool
Medial

Neobanking platform Jupiter has expanded its employee stock option plan (ESOP) pool by Rs 40 crore (nearly $5 million). With this, the firm has joined a host of growth and late-stage companies which have expanded their ESOP pool in the ongoing calendar year. Jupiter has approved the issuance of 21,665 ESOP options to the “Jupiter Employee Welfare Trust, its regulatory filing accessed from the Registar of Companies (RoC) shows. Each equity share is priced at Rs 18,826.29, including premium, making the total ESOP worth Rs 40.7 crore. In March 2022, Jupiter had its last ESOP buyback worth $4 million for 21 employees. According to the filing, Jupiter’s total ESOP pool formed 7.89% of the total share capital. The development comes at a time when Jupiter is expanding its product portfolio and it recently received wallet licence from the Reserve Bank of India (RBI). The firm also scooped up strategic funding from its existing investor for its non-banking financial (NBFC) business Amica Finance. Entrackr had exclusively reported the development in June. Jupiter was last valued at around $710 million during a $86 million Series C round in December 2021. It has raised over $160 million to date from QED Investors, Peak XV and Matrix Partners among others. As per startup data intelligence platform TheKredible, Jupiter achieved a total revenue of Rs 56 crore but reported a loss of Rs 327 crore in FY23. Jupiter competes with the likes of Niyo, Slice, and Fi among others.

Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn

EntrackrEntrackr · 2m ago
Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn
Medial

Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn Quick commerce company Zepto has expanded its existing ESOP plan by adding additional employee stock options worth over $169 million. The board at Zepto has passed a resolution for approval to add 39.39 lakhs ESOP options to its existing plan, bringing the total ESOP pool to 122.90 lakhs, its regulatory filing with the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 1,486 crore (around $169 million), taking the total ESOP pool to Rs 4,637 crore ($527 million). As per the filings, the company is extending an interest-free loan of up to Rs 700 crore to the Zepto Employee Stock Option Trust to facilitate the purchase or subscription of its equity shares under the Zepto Share Option Plan I (ESOP Plan), as approved by the Board. This ESOP expansion coincides with the company’s $450 million Series H funding led by California Public Employees’ Retirement System (CalPERS). As per filings, the company has received a primary injection of Rs 2,562 crore or $291 million from the likes of GC Holdings, Gladebook, Stepstone, Springblue, Goodwater, Lightspeed, and others. The company has raised a total of $2.3 billion since its inception, including $1.8 billion since January last year. Zepto’s revenue for FY24 was Rs 4,454 crore, more than double the Rs 2,026 crore reported in FY23. The company’s losses narrowed slightly from around Rs 1,272 crore in FY23 to Rs 1,249 crore in FY24. As per filings, Zepto clocked a turnover of Rs 11,110 crore ($1.3 billion) in FY25.

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