Justdial, an India-based search engine and online directory, has allotted equity shares to its employees as part of the employees stock option schemes (ESOPs). According to the company’s exchange filing, a total of 68,303 equity shares have been allotted to employees on Monday, 19 June, 2023.
The face value of each equity share is Rs 10. Moreover, out of the total shares allotted, 67,974 options were wielded at Rs 10 each, while the remaining 329 options were wielded at a higher price of Rs 80 each. This indicates that employees have chosen to exercise their stock options at different strike prices.
Following the allotment, the paid-up capital of Justdial has increased to Rs. 85,02,84,070. Additionally, after the allotment of shares, the market performance of the company also saw a slight increase.
The allotment of equity shares to employees through ESOPs is a common practice in many companies. It serves as a way to reward and retain employees by granting them the opportunity to own a stake in the company. By offering stock options, companies aim to align the interests of employees with the long-term success and growth of the organisation. This can help motivate employees to work towards the company’s goals and share in its financial success.
Established in 1996, Justdial has become a go-to platform for millions of users seeking information on various local services, businesses, and products. The company’s comprehensive database covers a wide range of categories, including restaurants, hotels, hospitals, travel agencies, real estate agents, and many more. Justdial’s user-friendly interface and extensive listings make it a convenient tool for individuals and businesses alike.