Foodtech giant Zomato allots ESOP worth Rs 2.5 crore

Foodtech giant Zomato on Monday announced it has allotted employee stock option plans (ESOP) worth Rs 2.52 crore to select employees of the company and its subsidiaries.

In a BSE filing, the company said it has approved the allotment of 2,52,59,179 (Two Crore Fifty Two Lakh Fifty Nine Thousand One Hundred and Seventy Nine) equity shares having a face value of Re. 1/- (Indian Rupee One only) each, as fully paid-up, to identified employees of the Company and its subsidiaries upon exercise of vested options.

Of this, about 48 lakh shares will be allotted as sweat equity to identified employees of the company under the Zomato Employee Stock Option Plan 2018. 

Last year, CEO Deepinder Goyal said he will donate the proceeds of his recently vested employee stock options to Zomato Future Foundation (ZFF). The ESOPs were worth nearly Rs 700 crore according to news reports. 

The ESOPs given to CEO Deepinder Goyal in the second half of FY23 cost the company Rs 143 crore. While the total ESOP cost to key managerial personnel, including chief financial officer Akshant Goyal and company secretary Sandhya Sethia cost Rs 156 crore. 

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