Gurugram-based Delhivery grants ESOPs worth Rs 20.56 crore to employees

Delhivery, the Gurugram-based logistics company, has approved the grant of 4,36,800 employee stock options under its long-standing stock option schemes, according to a regulatory filing on Thursday.

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The Nomination and Remuneration Committee of the board cleared the allocation on September 4, 2025, with effect from September 1. The grant includes 85,700 options under the Delhivery Employees Stock Option Plan 2012 (ESOP-2012) and 3,51,100 options under the Delhivery Employees Stock Option Plan IV, 2021 (ESOP-2021).

Each option can be converted into one fully paid-up equity share with a face value of Re 1 at an exercise price of Re 1 per share. At Thursday’s closing price of Rs 470.65 per share, the total value of the grant was estimated at Rs 20.56 crore.

The vesting of these options is spread over a period of up to four years. For ESOP-2012, 10% of the options will vest after one year, 30% after two years, and the remainder at a rate of 15% every six months thereafter. Under ESOP-2021, vesting will take place between one and four years, as determined by the committee. Employees will be able to exercise the options upon vesting, provided they remain in service.

Delhivery emphasised that the options were granted in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The equity shares arising on conversion will rank pari passu with the company’s existing equity shares and will not be subject to a lock-in.

The move comes as Delhivery reported a 5.6% year-on-year increase in revenue to Rs 2,294 crore in the first quarter of FY26, compared with Rs 2,172 crore in the same period last year. The company posted a quarterly profit of Rs 91 crore.