Deepinder Goyal-led Eternal grants 64.77 lakh stock options worth Rs 171.5 crore

Eternal Ltd, a Deepinder Goyal-led company, has granted over 64,77,602 employee stock options under its long-standing and new stock option plans, the company disclosed in a regulatory filing on Tuesday. The options have been distributed under the Foodie Bay Employee Stock Option Plan 2014 and Zomato Employee Stock Option Plan 2021.

Each option entitles its holder to acquire one equity share at a nominal exercise price of Rs 1. The options will vest and become exercisable within a maximum of ten years from the date of vesting, or twelve years from the company’s listing—whichever is later. The newly granted options cover a total of 69,19,736 equity shares of face value Rs 1 each, inclusive of adjustments for corporate actions.

The majority of the options—64,77,536—have been issued under the 2021 plan, while only 66 options have been granted under the earlier 2014 scheme. The grant, calculated at Eternal’s share opening price of Rs 264.75 on Tuesday, represents a notional value of approximately Rs 171.5 crore. These shares, upon exercise, will rank pari-passu with existing equity shares and will not be subject to any lock-in period.

This grant continues Eternal’s strategy of leveraging stock options as a tool for employee retention and long-term alignment, particularly as it scales operations across its food delivery, quick commerce, and dining-out verticals.

The company last made a similar move in April, allotting 2.17 lakh stock options under ESOP 2021 and 158 under ESOP 2014, with a combined value of Rs 4.42 crore based on the prevailing market price at that time.