Stanza Living, the Indian managed accommodation company, has announced ESOPs for it workforce, covering over 800employees across its network. The move is aimed at democratising ownership and helping staff create personal wealth. The full-scale ESOPs plan is meant for corporate teams and ground-operations employees. An allocation pool of Rs 35 Cr has been set up for the effort.
Anindya Dutta, MD and co-founder, Stanza Living, admits that the idea is to “recognise and reward every employee across the organisation who has contributed to our journey. The further strengthening of the Stanza Living ESOP plan enables us to continue to democratise ownership in the company and offer an opportunity for deep individual wealth creation, backed by our disruptive business proposition and market potential.”
An ESOP-linked rewards and recognitions programme from the pool is also in the pipeline.
The Company wishes to recognise the “exemplary employees for their hard work and commitment through a top-up ESOP plan, beyond their compensation increments.” This will give them the “opportunity to strengthen their shareholding in the Company and continue growing with us. “
At the time of its launch in 2017, Stanza Living had only 100 beds. Over the past few years, it has grown to almost 65,000 beds across 16 cities, carving out a niche for itself in the organised managed accommodation space. It managed to raise over US$ 170 mn in capital, including its most recent Series D fundraise in April 2021. Its portfolio now includes student housing, co-living for working professionals, third-party hostel facility management and more.