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Swiggy expands ESOP pool with Rs 150 Cr fresh grant

EntrackrEntrackr · 9h ago
Swiggy expands ESOP pool with Rs 150 Cr fresh grant
Medial

Swiggy expands ESOP pool with Rs 150 Cr fresh grant Food delivery and quick commerce platform Swiggy has rolled out fresh employee stock option (ESOP) grants worth Rs 150 crore ($17.5 million). Swiggy Limited has granted 38.86 lakh stock options under its ESOP 2024 plan, according to filings with the NSE. At the current market price of Rs 385.3 per share, the grant is valued at around Rs 150 crore. As per the disclosure, the stock options have an exercise price of Rs 1 each and convert into one fully paid-up equity share upon vesting. They can be exercised anytime after the vesting period until the company’s liquidation. The development comes a month after, when Swiggy entered the travel concierge and lifestyle management space with a new app called Crew. Entrackr has exclusively reported the development. In April this year, the Bengaluru-based company announced fresh employee stock options under its ESOP plan 2024 for eligible employees worth Rs 443.4 crore (around $52 million). Swiggy’s losses surged 95% year-on-year to Rs 1,081 crore in the fourth quarter of FY25, even as revenue rose 45% to Rs 4,410 crore. For the full fiscal year, the company reported Rs 15,227 crore in revenue. In contrast, rival Zomato remained profitable with Rs 39 crore during the last quarter of the previous fiscal year (Q4FY25), while Zepto narrowed its losses to Rs 1,248 crore in FY24. At the close of trading on Friday (July 11, 2025), Swiggy’s shares were priced at Rs 385.3, and the company had a market capitalization of Rs 96,080 crore (around $11.3 billion).

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

EntrackrEntrackr · 10m 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: Curefoods gets Landmark Group backing, expands ESOP pool

EntrackrEntrackr · 4m ago
Exclusive: Curefoods gets Landmark Group backing, expands ESOP pool
Medial

Exclusive: Curefoods gets Landmark Group backing, expands ESOP pool Cloud kitchen startup Curefoods is raising Rs 37 crore (around $4.4 million) from Landmark Group. The funding comes just a month after Curefoods acquired Krispy Kreme’s South and West India operations from the same group. The board at Curefoods has passed a special resolution to issue 3,458 compulsory convertible preference shares at an issue price of Rs 1,07,526 each to raise Rs 37 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The Landmark Group is reportedly to invest an undisclosed amount in Curefood in its $40 million round of fundraising. After the latest funding, Landmark Group will retain a 0.96% stake in the company, which could increase with additional investments. Entrackr estimates the firm's post-allotment valuation at around $460 million. Curefoods has also increased its ESOP pool size by adding fresh 10,613 employee stock options worth Rs 114 crore or $13.5 million, the separate resolution shows. According to Entrackr’s estimates, Curefood’s total ESOP plan is now valued at approximately Rs 213 crore or 25 million, encompassing 19,842 employee stock options. Launched in 2020, Curefoods operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox, and CakeZone. It has over 100 kitchens in over 200 locations across 15 cities serviced by a backend operation of over 7 food factories, and 150 multi-brand cloud kitchens. The company also acquired two brands – YumLane Pizza and Millet Express in 2023. Curefoods grew at a rapid clip with a 53% year-on-year growth in its revenue to Rs 585 crore in FY24 from Rs 382 crore in FY23. According to its annual report, the sharp decline in advertising costs helped Curefoods to control its losses by 50% to Rs 172.6 crore in the same period.

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.

Nykaa adds fresh ESOP options ahead of Q4 results

EntrackrEntrackr · 1y ago
Nykaa adds fresh ESOP options ahead of Q4 results
Medial

Online fashion and beauty commerce platform Nykaa on Tuesday announced fresh employee stock option (ESOP) options for its employees under the new ESOP scheme. The nomination and remuneration committee of FSN E-Commerce Ventures Limited (parent of Nykaa) has agreed to grant 4,05,000 stock options to its employees, the disclosure filed with the National Stock Exchange (NSE) shows. Every ESOP option will be converted into equity shares, said filings. According to Fintrackr’s estimates, the newly added ESOP options are worth around Rs 7 crore. The calculation is based on Nykaa’s peak share price of Rs 177 (as of 11.38 AM, May 21, 2024). The objective of expanding the ESOP pool is to promote employee ownership and as well as to attract, retain, and motivate talents in line with corporate growth. While the firm is set to file Q4 FY24 results, its revenue from operations surged 18.7% to Rs 1,788 crore during the third quarter of FY24 from Rs 1,507 crore in Q2 of the same fiscal year. Notably, its gross merchandise value rose to Rs 3,619.4 crore in the third quarter.

Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant

EntrackrEntrackr · 16d 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.

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.

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.

Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool

EntrackrEntrackr · 1m ago
Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool
Medial

Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool Loyalty management firm Capillary Technologies is inching closer towards its public listing as the Bengaluru-based firm received board nod to float its Rs 2,250 crore or $265 million Initial Public Offering (IPO). The board at Capillary Technologies has passed a special resolution to raise up to Rs 500 crore ($59 million) via fresh issue of equity of shares and an offer for sale of up to an aggregate amount of Rs 1,750 crore ($205 million), its regulatory filing accessed from the Registrar of Companies show. In a separate move ahead of the IPO, the firm has expanded its employee stock ownership plan (ESOP) pool by 123%, increasing it from 32.6 lakh to 72.91 lakh options, which now account for 9.04% of its total share capital. According to Entrackr’s estimates, the expanded ESOP pool is valued at around Rs 212 crore, out of a total pool size of Rs 384 crore. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, Capillary Technologies is a SaaS company that helps brands strengthen customer loyalty. Its platform provides insights that enable brands to offer real-time, personalized, and consistent experiences across multiple channels. As per the company, it operates across the US, India, the Middle East, and Asia, supporting over 100 loyalty programs and partnering with more than 250 brands, including Tata, PUMA, Shell, and Al-Futtaim, among others. Capillary Technologies has raised more than $240 million so far, including a $140 million Series D round completed in February last year. From this amount, $20 million is allocated for employee payouts through its stock ownership plan (ESOP). Earlier this month, the company expanded its presence in North America by acquiring Kognitiv, a provider of omnichannel loyalty solutions, as part of its strategic growth plan.

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