Highlights

  • Zomato approves allotment of ESOPs to employees
  • ESOPs issued at Re 1 to employees of food tech giant

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Zomato delivers ESOP bonanza, shares for Rs 1

Zomato board of directors  approved the allotment of 4,65,51 ,600 equity shares to employees upon exercise of vested stock options.

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      Zomato shares for just 1 rupee! No not a firesale but an ESOP bonanza delivered by the food tech giant. The firm informed exchanges that the board has approved the allotment of 4.66 crore shares from its ESOP (employee stock option plan) pool at an exercise price of one rupee.

      Also read/watch| Explained: Why Zomato share prices hit record low

      On the basis of market price of Zomato shares on July 27, the total allotment is worth Rs 193 crore. Zomato shares have faced severe sell-off with lock in period of anchor investors ending. The stock is down 20% over 2 days hitting new record lows.

      While Zomato had an impressive stock market debut, it has wiped over 45% of the value from its offer price within a year of listing.

      Samajwadi Partyshivpal singh yadavAkhilesh Yadav

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