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

EntrackrEntrackr · 1m 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.

Swiggy adds fresh ESOPs worth $52 Mn

EntrackrEntrackr · 6m ago
Swiggy adds fresh ESOPs worth $52 Mn
Medial

Swiggy adds fresh ESOPs worth $52 Mn Food delivery and quick-commerce platform Swiggy Limited on Monday announced fresh employee stock options under its Employee Stock Option Plan 2024 for eligible employees. The Nomination and Remuneration Committee passed a circular resolution to grant 12,896,462 ESOPs (Employee Stock Options) to its employees, according to a disclosure filed by Swiggy with the National Stock Exchange (NSE). As per the filings, each stock option will be converted into an equity share. Based on Swiggy's current market valuation, the newly granted ESOPs are valued at Rs 443.4 crore, or approximately $52 million. The development comes three months after it allotted 2.61 crore shares under various ESOP schemes. The company’s paid-up equity share capital also increased to Rs 2.26 crore from Rs 2.23 crore. Recently, Swiggy invested Rs 1,000 crore in its subsidiary Scootsy Logistics for expansion. Scootsy Logistics contributed 42% of Swiggy’s overall revenue in the previous quarter. Swiggy has yet to file its financial results for the last quarter of the last fiscal year (Q4 FY25). During the Q3 FY25, the company recorded a 31% year-on-year growth to Rs 3,993 crore, compared to Rs 3049 crore in Q3 FY24. In the pursuit of growth, the losses for Swiggy grew 39.2% to Rs 799 crore in the same period. After today's trading session, Swiggy's stock closed at Rs 343.85 per share, bringing its total market capitalization to Rs 78,620 crore (around $9 billion). Amid recent market volatility, the company also hit an all-time low of Rs 306.95 on April 7.

Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr

EntrackrEntrackr · 4m ago
Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr
Medial

Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr Le Travenues Technology Limited, the parent company of travel tech platform Ixigo, has granted 211,912 stock options under its ESOP schemes of ESOS 2013, 2020, 2021, and 2024. The options have been issued at an exercise price of Rs 93 per share and will vest over four years in equal annual tranches. At the current market price of Rs 178.6 per share, the total value of the grant stands at approximately Rs 3.78 crore, implying a per-option value gain of Rs 85.6 for eligible employees. Ixigo reported a 72% growth in scale in the last quarter of FY25, reporting a revenue of Rs 284 crore in Q4 FY25. Meanwhile, its year-on-year (YoY) profits increased by 2.4X to Rs 17 crore during the same period. Recently, Elevation Capital also offloaded 75.48 lakh shares of Ixigo at an average price of Rs 179.25 apiece. At the same time, global investor Schroder Fund made its entry into Ixigo by acquiring 53.68 lakh shares worth Rs 96.8 crore. At the close of trading on Wednesday (July 16), Ixigo’s shares were priced at Rs 179.8, giving the company a market capitalization of Rs 7,017 crore (approximately $820 million).

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