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CarDekho to offer ESOP scheme worth $3.5 mn

11Feb By PriyankaNo Comments

BUSINESS

CarDekho to offer ESOP scheme worth $3.5 mn

Automobile portal CarDekho said it will offer an ESOP cash-out scheme worth USD 3.5 million (over Rs 24 crore) to about 100 of its current and former employees. CarDekho will allow eligible employees (current and former) to cash out 50 per cent of their vested options under Girnarsoft group's ESOP Exercise and Secondary Sale Plan, a statement said. "The current discretionary ESOP cash-out scheme is valid for both existing employees who have served 2 years and former employees who have served 4 years in the company and held vested options as of 31st January 2020," it added. The cash-out, estimated to be worth USD 3.5 million, is the second one this financial year, it added. The first ESOP cash out was announced in April last year, where Jaipur-headquartered CarDekho had bought E...

Tata Group Offers ESOP’s for Employees Breaking 150 Yr Old History

26May By Lavina TolaniNo Comments

News

Tata Group Offers ESOP’s for Employees Breaking 150 Yr Old History

Tata Group, India's Biggest Commercial Vehicle Manufacturer has announced to offer employee stock option for the first time in 150 years to its top 200 executives while the company is set to enter its next round of turnaround strategy. This move will mark first of its kind initiative done in an Indian automotive space by a $100 billion company. Three criteria shall be used to assign stock options which shall be based on performance metrics as informed by the company official: Gain in market share EBIT margin improvement Free cash flow as a percentage of revenue B Balaji, Tata Motors CFO said while addressing the conference, This is to ring-fence critical talent during the turnaround phase and to match employee payoffs to the long-term gestation period of key i...

The New ESOP’s Offer for Flipkart Employees Revealed !

15May By Lavina TolaniNo Comments

News

The New ESOP’s Offer for Flipkart Employees Revealed !

E-commerce Unicorn Flipkart has announced a repurchase ESOP's offer for its employees at a share price ranging from USD 125-129. The offer from the Bengaluru headquartered company comes in the wake of the completion of company's acquisition by US retailer Walmart for roughly USD 16 billion. According to one of the sources familiar with the matter, Flipkart will allow employees, present as well as former to liquidate part of their vested options. This will enable current employees to vest up to 50 percent of their stock options now followed by 25 percent in the second and third year. The transaction price would be in the range of USD 125-129 per option. As far as former employees are concerned, they can vest up to 30 percent of their ESOPs. A company spokesperson also added that the e...

Flipkart Offers Additional ESOPs to Eligible Employees

13Apr By AdityaNo Comments

News

Flipkart Offers Additional ESOPs to Eligible Employees

E-commerce major Flipkart will issue additional shares to eligible employees in efforts to ensure their stake remains at a "steady level" after the latest fund raising round that came at a lower valuation. The Bengaluru-based firm, which competes with the likes of Amazon and Snapdeal, has recently raised USD 1.4 billion at a valuation of USD 11.6 billion. This is lower than the previous funding raised in 2015, when Flipkart was valued at USD 15.2 billion. Employees who are part of ESOP (employee stock option plan) programmes across the Flipkart group, including Myntra and PhonePe, were informed of the move through an email. Flipkart Group CEO Binny Bansal said the differential grant was being made, so that the total dollar value of options allotted to an employee remain unchang...