The parent firm of Zomato, Eternal, has approved the issuance of fresh employee stock options for more than 7.4 million shares, according to the exchange filing done by the firm.
The Nomination and Remuneration Committee (NRC) of the firm approved the issuance on 1 April through a circular resolution. The firm has granted the stock options under three schemes: the Foodie Bay Employee Stock Option Plan 2014, the Zomato Employee Stock Option Plan 2021, and the Zomato Employee Stock Option Plan 2024.
The total number of options granted to the eligible employees is 7,418,741. Of the total, the options under the ESOP 2014 scheme are 38, the options under the ESOP 2021 scheme are 1,802,224, and the options under the ESOP 2024 scheme are 5,616,479.
The face value of the equity share is Rs.1. Each stock option is convertible into one fully paid-up equity share. The total equity shares under the issuance are 7,673,303.
The exercise price has been fixed at Rs 1 per stock option. Employees can now exercise their options under ESOP 2014 and ESOP 2021 within 10 years from the date of vesting or 12 years from the date of listing, whichever is later. In the case of ESOP 2024, employees can now exercise their options within 10 years of vesting.
The schemes also specify how employees would be treated in case of death, permanent incapacity, resignation, termination, retirement, or abandonment of services. There will be no lock-in period for shares issued on the exercise of stock options. Options under ESOPs have not been vested, exercised, lapsed, or changed, as per the latest filing by the company.
The ESOPs amount to around Rs 172 crore based on Thursday’s closing share price of Rs 231.99. In its latest quarterly results, Eternal reported a revenue of Rs 16,315 crore from operations in the third quarter of the FY2025-26 financial year. The profit stood at Rs 102 crore.
