BENGALURU: Fintech unicorn Razorpay on Monday stated it’s extending worker inventory choices (ESOP) value Rs 1 lakh to each of its over 3,000 staffers.
“This marks the first time Razorpay has extended ESOPs of this magnitude, offering each current employee shares worth Rs 1 lakh. This initiative reflects our deep-rooted commitment to an employee-first ethos, honoring the unwavering dedication and hard work of our team,” a press release from the corporate stated.
The firm declined to share particulars of how a lot earlier Esop grant workouts had been value, saying that within the earlier rounds solely choose employees based mostly on efficiency had been chosen.
Among different new-age firms which have granted Esops to employees within the current previous are logistics providers supplier Delhivery, meals supply agency Zomato, funds providers supplier Paytm and journey tech agency Ixigo.
Last month, Delhivery permitted the grant of 4.9 lakh inventory choices. In the identical month, Paytm granted 4.05 lakh fairness shares, and Ixigo granted 17.6 lakh choices. The month earlier than, Zomato issued about 12 million inventory choices.
Razorpay’s earlier Esop grantees have benefited on account of a number of rounds of buybacks. The firm initiated its first Esop buyback in 2018, which allowed 140 employees to liquidate their vested shares. The second and third Esop buybacks in 2019 and 2021 benefited 400 and 750 employees respectively. The fourth buyback, in 2022, valued at $75 million, benefited 650 employees (together with former employees).
Till now, the corporate had awarded Esops to 1,940 employees.
With an annualized whole fee quantity (TPV) of $180 billion, Razorpay presently powers funds for 80 of India’s 100 unicorns.
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