Ola adds $46 Mn to ESOP pool for employees
Bengaluru-headquartered cab-hailing unicorn Ola has now extended its employee benefits pool (ESOP).
The parent company ANI Technologies in its extraordinary general meeting on December 24, 2019, sought to expand its ESOPs pool by adding $46 Mn (INR 326.45 Cr) with a further issue of 1,536,230 equity shares.
Faith in Employee Stock Options (ESOPs) has increased with many companies allowing employees to divest their part of holding in secondary transactions. Companies like BYJU’s, Unacademy, Rivigo, CarDekho, and Paytm are among many others who made their employees richer in the past 10-12 months.
Ola was one of the early companies to facilitate exit to ESOPs holders in 2018. Now, the company has expanded its ESOPs pool by adding Rs 326.45 crore ($46 million). According to regulatory filings, the company passed a special resolution to increase its ESOP pool by a further of 153,623 equity shares.
With the addition of stock to the ESOP pool, Ola joins the league of Unacademy, BYJU’S, Paytm who expanded their ESOP allocation in the past six months. To ease out ESOPs encashment, the government had recently mentioned in the budget about deferred tax payment on employee stock ownership plans.
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