Mobility platform, OLA, is expanding its employee stock options (ESOP) pool to Rs 3000 crores. The Company is also allocating an additional Rs 400 crores worth of stocks to employees ahead of its IPO. The objective is to recognise its employees and also offer a means for long-term wealth creation.
The last few months have put OLA on a positive recovery path in terms of its ride-hailing business, with more and more customers putting safety first when it comes to mobility. The Company has made significant investments in safety measures, by ensuring fumigation, temperature checks among other measures to gain the trust of its customers.
Bhavish Aggarwal, founder, OLA, says “Our expanded ESOP programme, along with the fresh stock allocation of Rs 400 crore, enables our key talent to participate in long-term wealth creation opportunities generated by their innovations and the impact they create. It will also reinforce their sense of ownership and align their growth with that of the company as we continue to accelerate the world’s transition to sustainable mobility.”
OLA, as a ride-hailing service, has strong presence across the world. It is known for revolutionising urban mobility by making it available on demand for more than a billion people across three continents.
It is now gearing to diversity. It is reportedly about to launch a used car retailing business in Bengaluru. According to reports, the Company has even started creating a team and will test out a pilot in the city soon.