Parent company of Indian e-commerce firm, Nykaa,FSN E-Commerce Ventures has allotted 4.73 lakh shares under its employee stock options plan or ESOP. The shares are valued at about Rs 8.08 crore, as per Nykaa’s closing price of Rs 170.95 on the BSE on 13 June 2024. Earlier, on 20 May, Nykaa had allotted 4.05 lakh shares under the ESOP scheme. The ESOPs at Nykaa are meant to draw quality talent, retain them and align their interests with that of the shareholders, and give a push to the firm’s performance on the whole. The stock options’ grant will help employees grow with the company. It is pertinent to mention here that Nykaa posted a consolidated net profit of Rs 6.9 crore, for the quarter ending March 2024, which is 187 per cent more than the Rs 2.4 crore it posted during the same period last year. The company’s revenue from operations for this quarter rose 28 per cent year-on-year to Rs 1,668 crore.
FSN E-Commerce Ventures posted a 67 per cent increase in annual consolidated net profit to Rs 32.2 crore for the year ended 31 March, 2024.
IIFL Securities has granted 3,69,500 stock options under the ‘IIFL Securities Employee Stock Option Scheme – 2018’ (IIFL ESOS Scheme-2018), on June 14, 2024. This is part of the company’s endeavour to retain and motivate its employees.
These stock options, in line with SEBI’s Share Based Employee Benefits Regulations, 2021, can be converted into one fully paid-up equity share each. The grant, it is hoped, will result in increased sense of ownership and loyalty among its employees.
A total of 3,69,500 options have been issued, each with an exercise price of Rs. 189.45, which can be vested over four years from the date of the grant. Therefore, employees will earn gradual rewards for their continued service. There is also the option to exercise the stocks within seven years from the date of grant.
Yes Bank has also allotted 31,38,137 equity shares under ESOP on 15 June 2024. With this, the paid-up share capital of Yes Bank has gone up from Rs 62,66,50,47,150—consisting of 31,33,25,23,575 equity shares of Rs. 2 each—to Rs 62,67,13,23,424, consisting of 31,33,56,61,712 equity shares of Rs 2 each.
