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DMI Finance expands ESOP pool to $105 Mn

EntrackrEntrackr · 2m ago
DMI Finance expands ESOP pool to $105 Mn
Medial

Digital lending company DMI Finance has expanded its existing ESOP plan, DMI ESOP Plan 2018- Extended, by granting additional employee stock options to its employees. The board at DMI Finance has passed a special resolution to add 1,18,29,695 employee stock options to its existing plan, bringing the total ESOP pool to 3,44,29,695 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. As per Entrackr’s estimates, the newly added ESOPs are worth around Rs 306.6 crore or $36 million, while the value of the total ESOP pool stood at Rs 892 crore or $105 million. Notably, these valuations are based on the company's last funding round, where it raised $400 million through a mix of primary and secondary transactions, led by Japan’s MUFG Bank. In addition to ESOP pool expansion, DMI Finance also appointed Arjun Malhotra and Tammir Amr as Independent Directors of the company. Founded in 2008 by Shivashish Chatterjee and Yuvraja C Singh, DMI Finance is a digital lender offering consumption, personal, and MSME loans. It partners with leading platforms like Samsung, Google Pay, and Airtel to deliver embedded financial products to customers across India. In October 2024, the RBI barred four NBFCs, including DMI Finance, from sanctioning and disbursing loans due to non-compliance with pricing regulations, citing excessive lending rates and interest spreads. The restriction was lifted in January 2025. While it is yet to disclose its FY25 numbers, DMI Finance reported over 60% year-on-year growth in operating revenue to Rs 2,654 crore in FY24 as compared to FY23, along with a profit of Rs 397 crore during the same period.

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Ninjacart expands ESOP pool to $55 Mn

EntrackrEntrackr · 4m ago
Ninjacart expands ESOP pool to $55 Mn
Medial

Ninjacart, a B2B agritech firm, has expanded its existing ESOP plan, 63Ideas Infolabs Private Limited ESOP Plan-2023, by granting additional employee stock options to its employees. The board at Ninjacart has approved a special resolution to add 2,397 employee stock options to its existing plan, bringing the total ESOP pool to 8,919 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. The ESOP pool expansion aims to enhance employee ownership and extend welfare opportunities to a broader group of employees, the filing further added. As per Fintrackr’s estimates, the newly added ESOPs are worth around Rs 127 crore or $15 million while the value of the total ESOP pool stood at Rs 472 crore or $55 million. Notably, these valuations are based on the company's last funding round. Ninjacart is a marketplace that connects farmers, traders, and retailers, using technology to address supply chain challenges. Its approach includes targeted solutions like Ninja Mandi for traders and Ninja Kisaan for farmers. Ninjacart has secured over $400 million in funding from investors such as Tiger Global, Walmart, Accel, Tanglin Ventures, and others. The ten-year-old startup, considered a soonicorn, was last valued at approximately $815 million. Notably, the company has not raised any funds in the past three years. In terms of valuation, it competes with DeHaat, Absolute, and Wacool which have been valued at around $500 million, $500 million, and $460 million, respectively. Ninjacart has recorded a 74% year-on-year growth in its gross revenue, which increased to Rs 2002 crore in FY24 from Rs 1,153 crore in FY23. According to the company, it reported a 20% reduction in adjusted losses which came down to Rs 260 crore in FY24 from Rs 326 crore in FY23.

Exclusive: Peak XV-backed Jupiter expands ESOP pool

EntrackrEntrackr · 11m 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: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant

EntrackrEntrackr · 1m ago
Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant
Medial

Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant Omnichannel jewellery retailer Bluestone has expanded its existing ESOP plan to $80 million by adding additional employee stock options for its employees. The board at Bluestone has passed a resolution for approval to add 42,43,312 employee stock options to its existing plan, bringing the total ESOP pool to 1,17,27,642 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are worth around Rs 245 crore or around $29 million. Out of the newly added stock options, Rs 92.6 crore ($11 million) will be granted to the company’s Chief Operating Officer (COO), Sudeep Nagar. This addition brings the total value of Bluestone’s ESOP pool to Rs 678 crore or around $80 million. Notably, these valuations are based on the company's last funding round, where it raised around Rs 900 crore pre-IPO round led by Prosus, out of which Rs 300 crore is secondary. Ahead of Bluestone’s IPO, Global consumer internet group Prosus values the company at $950 million, just shy of unicorn status ahead of its IPO. Prosus has valued its stake in BlueStone at $42 million, as per its latest annual report. The stake, held through its fund MIH Investments One B.V., represents a 4.43% ownership in the jewellery brand. As per ET report, Bluestone is all set to join the unicorn status with secondary transactions worth Rs 300-350 crore by private wealth management arms of 360 One and Centrum Wealth. This will value the company at $1.2 billion. In December 2024, Bluestone filed its draft red herring prospectus (DRHP) with SEBI for an IPO, comprising a fresh issue of equity shares worth up to Rs 1,000 crore and an offer for sale (OFS) of up to 2.398 crore shares, allowing a full exit for Samma Capital, IvyCap Ventures, and Kalaari Capital. Founded in 2011, omnichannel jewellery brand BlueStone offers high-value gold and diamond jewellery, including rings, pendants, chains, and earrings, through its retail stores and online platform. As per its DRHP, the company operates over 203 stores across 86 cities. BlueStone has raised around $262 million across multiple funding rounds from investors such as Accel, Prosus, Peak XV Partners, 360 One, Kalaari Capital, and others, according to startup data intelligence platform TheKredible. In FY24, BlueStone’s revenue grew 64% year-on-year to Rs 1,266 crore, up from Rs 771 crore in FY23. The company also trimmed its losses by 15% during the same period, bringing them down to Rs 142 crore.

Exclusive: ShareChat adds new ESOP options worth $108 Mn

EntrackrEntrackr · 5m ago
Exclusive: ShareChat adds new ESOP options worth $108 Mn
Medial

Exclusive: ShareChat adds new ESOP options worth $108 Mn The board at ShareChat has approved a special resolution to add 5,83,800 employee stock options to its existing plan, bringing the total ESOP pool to 14,30,100 options. Mohalla Tech, the parent entity of the vernacular social media platform ShareChat and short video entertainment app Moj, has added fresh employee stock option (ESOP) options for its employees as part of its existing ESOP plans. The board at ShareChat has approved a special resolution to add 5,83,800 employee stock options to its existing plan, bringing the total ESOP pool to 14,30,100 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. Every 100 stock options will be converted into one equity share at a later date decided in the agreement. The expansion of the ESOP pool aims to foster employee ownership while attracting, retaining, and motivating talent, the filing further added. As per Fintrackr’s estimates, the newly added ESOPs are worth Rs 2,283 crore or $271 million while the value of the total ESOP pool stood at Rs 5592 crore or $665 million. Notably, these valuations are based on the company's $2 billion valuation. According to startup data intelligence platform TheKredible, ShareChat has raised around $1.2 billion from investors including Twitter (now X), Alkeon Capital, Moore Strategic Ventures, and Tencent, among others. Despite mopping up more than $1 billion, the company wasn’t able to show substantial revenue as of FY23. Struggle in monetization led to a steep fall in valuation which stood at less than $2 billion in the recent bridge round. The firm was valued at $5 billion during its last fundraise in June 2022. However, the firm has recorded a 30% year-on-year growth to Rs 718 crore during the fiscal year FY24. With the reduction in expenses, the adjusted EBITDA loss for the Tencent-backed firm stood at Rs 793 crore in the same period.

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