Delhivery Allots 6.15 Lakh Equity Shares Under ESOP Plans

Listed logistics unicorn Delhivery has approved the allotment of 6.15 Lakh equity shares for the exercise of vested options under its employee stock option plans.

“…the stakeholders’ relationship committee of delhivery limited (‘company’) on Monday, September 09, 2024, approved the allotment of a total of 6,15,930 equity shares of face value Re. 1/‐ each fully paid up against the exercise of vested options,” Delhivery said in an exchange filing.

Of these, 1.94 Lakh shares were allotted under ESOP 2012 and the remaining 4.21 Lakh shares were issued under ESOP 2020. 

Under the ESOP 2012, the startup has set the exercise price at INR 1 for 67,377 stock options, INR 16.28 for 7,909 stock options and INR 29.85 for 1,19,344 stock options. While the exercise price for 4,21,300 Options under ESOP III 2020 was at INR 0.10. 

Based on Delhivery’s closing prices of Monday trading session, these allotted stocks are valued at INR 25.18 Cr.

Following the allotment of these shares, the startup’s paid-up capital has increased to INR 74 Cr from INR 73.94 Cr.  

Shares of Delhivery were trading up 1.80% at INR 416.30 at 10:50 AM on the BSE.

It is pertinent to note that, a few days back, the company expanded its ESOP pool by allocating 63,538 stock options to the eligible employees under ESOP 2012.

Founded by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati in 2011, Delhivery is a transportation, supply chain and logistics company. It competes with the likes of Xpressbees, Blue Dart, Flipkart’s Ekart Logistics and Amazon Shipping. 

In July, the company also got approval from the Ministry of Corporate Affairs (MCA) to incorporate its drone subsidiary, Delhivery Robotics India Private Limited. The new entity is likely to offer Drone as a Service (DaaS) for shipment movement and remote sensing.

The startup reported a net profit of INR 54.3 Cr in FY25 Q1, against the net loss of INR 89.4 Cr in Q1 FY24. Its revenue from services grew 13% year-on-year to INR 2,172 Cr in Q1 FY25 from INR 1,930 Cr in Q1 FY24.