Hearing care startup Hearzap unveils Rs 8 crore ESOP plan, aims to double growth by FY28

Hearzap, a homegrown startup that provides hearing care solutions, has announced its employee stock ownership plan (ESOP). With this program, eligible employees will have the opportunity to become shareholders of the company and share in Hearzap's long-term vision of making hearing care accessible and affordable throughout India.

The company recently approved the ESOP program, through which stock options worth approximately Rs 8 crore will be granted to eligible employees. With an overall revenue growth of 20% in FY 24-25, this initiative provides team members with an opportunity to build personal wealth and grow alongside the company.

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Hearzap provides 360-degree hearing care solutions, dedicated to addressing challenges in hearing health awareness, accessibility, and affordability

It claims to have grown to more than 150 hearing experience stores in India and served over 1.2 million clients. Hearzap plans to expand to 250 stores by FY26, and 500 stores thereafter, targeting 2x growth in the next three years.

Raja S., Managing Director, Hearzap, said, "By implementing our ESOP, we aim to demonstrate our commitment to value and appreciate the adaptability and loyalty of our team. It is more than a financial incentive, it is a new era of empowerment, acknowledging that what we achieve is a shared accomplishment. We intend to build a culture of ownership and shared prosperity. Hearzap is more than a workplace. It is a place to be an individual and grow personally and financially."