Eternal Ltd Grants INR 168.4 Cr Worth ESOPs to Employees Earlier in April, Eternal had allotted 2.17 lakh stock options under the 2021 plan and 158 options under the 2014 plan, collectively valued at around INR 4.42 crore, based on the stock price of INR 203 at the time.
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Eternal Ltd, formerly known as Zomato, has granted 64.77 lakh stock options to eligible employees under its Foodie Bay Employee Stock Option Plan 2014 and Zomato Employee Stock Option Plan 2021.
According to a regulatory filing on Tuesday, each stock option is convertible into one equity share at an exercise price of INR 1.
These stock options can be exercised within 10 years from the date of vesting or 12 years from the company's listing date, whichever is later. Shares arising from this exercise will rank pari-passu with existing equity shares and will not be subject to any lock-in restrictions.
Based on Eternal's opening share price of INR 260, the value of this grant stands at approximately INR 168.4 crore. The total number of equity shares covered, including adjustments for corporate actions, is 69,19,736 with a face value of INR 1 each.
Earlier in April, Eternal had allotted 2.17 lakh stock options under the 2021 plan and 158 options under the 2014 plan, collectively valued at around INR 4.42 crore, based on the stock price of INR 203 at the time.
The company continues to use ESOPs as a strategic tool for employee retention and long-term value creation amid its growth in food delivery, quick commerce, and the "going-out" segments.
Rival Swiggy has also intensified its ESOP activity, allotting 36.32 lakh equity shares in April and granting 1.28 crore options under its 2024 plan, valued at INR 440 crore.
