New Delhi Indian startups are giving their employees a reason to rejoice during the festive season. Ten companies that have either listed or are preparing to do so this year, including Paytm, Oyo, Zomato, Nykaa and Pharmeasy, have raised nearly $5.2 billion for their employees through their employee stock option plans (Esop). Have earned
Food-tech firm Zomato leads the pack with great listings in the stock markets. Its ESOP pool stood at $745 million at the time of the IPO, which more than doubled to $1.5 billion at its closing share price on Friday.
The company’s top 10 executives have options worth more than $210 million as of Friday’s closing price, with co-founders Mohit Gupta, Gaurav Gupta and Gunjan Patidar worth more than the cumulative stock options alone. 1,100 crores ($150 million).
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Orawell Stages Pvt. Ltd., the operator of the OYO hotel aggregator platform, follows Zomato, which has an Esop pool of around $1.1 billion, with a company valuation of over $10 billion. The biggest beneficiary of the ESOP pool at OYO will be its global chief operating officer and chief product officer Abhinav Sinha, who has more value-added options. 1,100 crore, as reported by VCCircle in October.
India’s most valuable startup, Paytm, corresponds to an Esop pool worth $89.9 million, calculated on the share price. 2,150—the upper end of the IPO price band. Two-thirds of the pool is owned by founder Vijay Shekhar Sharma, who was first allotted Esops in September ahead of the firm’s IPO.
PB Fintech, an online pharmacy operated by API Holdings, and Policybazaar and Paisabazaar platform operators, has allocated over $1 billion cumulative options to its employees. Policybazaar’s top-10 managerial executives account for nearly 80% of the pool of over half a billion dollars.
Others such as logistics unicorn Delhivery, classifieds platform CarTrade and beauty product marketplace Nykaa also claim a total ESOP pool of $566 million.
To be sure, the denominated price for Esop fell on the upper end of IPO pricing for market-bound startups that have announced their pricing. VCCircle has taken the current trading price for the startups already listed. For startups that have not yet been listed, including Oyo, PharmEasy, Delhivery and MobiKwik, VCCircle arrived at pricing based on the most recent fundraising valuations.
In addition, software-as-a-service (SaaS) startup FreshWorks, which listed on the Nasdaq a few months ago, has an ESOP pool of more than $1.37 billion at its current share price of $38.4. The company was not included in the analysis because it is listed overseas. However, it deserves attention as it is an Indian-origin technology company.
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