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

EntrackrEntrackr · 4d 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).

IPO-bound Swiggy grants $271 million Esops to founder Sriharsha Majety, top management

Economic TimesEconomic Times · 1y ago
IPO-bound Swiggy grants $271 million Esops to founder Sriharsha Majety, top management
Medial

- Swiggy granted employee stock options worth $271 million to its founders and top management in its latest stock-based compensation plan. - Founder and CEO Sriharsha Majety received nearly $200 million worth of stock, potentially increasing his stake in the company by 2.2-2.5%. - Other recipients of stock options include co-founders Nandan Reddy and Phani Kishan Addepalli, CFO Rahul Bothra, CTO Madhusudhan Rao, food marketplace CEO Rohit Kapoor, and Swiggy Instamart CEO Amitesh Jha. - The stock options have a vesting period of one to eight years and may be subject to valuation changes after the IPO. - Swiggy's IPO filing saw a fresh issue component initially sized at $450 million, which may expand to $600 million. - Similar stock-based compensation plans have been observed in other tech startups like Zomato, Paytm, Freshworks, Delhivery, and PB Fintech prior to their IPOs.

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.

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