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Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr

EntrackrEntrackr · 10d 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).

Swiggy adds fresh ESOPs worth $52 Mn

EntrackrEntrackr · 3m 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.

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).

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