Delhivery Allots Over 11 Lakh Equity Shares Under ESOPs

Delhivery has granted 11,21,541 stock options to eligible employees under its three different employee stock option plans (ESOP), according to an exchange filing yesterday (November 8). 

The company’s board approved this issuance, allowing each option to convert into one fully paid-up equity share with a face value of INR 1.

According to the filing, 1,87,641 shares were allocated under the ESOP 2012 , 7,56,000 shares under the ESOP II 2020 and 1,77,900 shares were issued under the ESOP III 2020 plan. 

“The equity shares so allotted shall rank pari-passu (ranking equally and without preference) with the existing equity shares of the Company in all respects,” the filing added. 

Further, the issuance will increase Delhivery’s paid-up capital from INR 74.09 Cr to INR 74.20 Cr.

Based on the stock’s closing price on Friday, the total value of the new allotted stocks translates to INR 38.8 Cr. 

Shares of Delhivery closed at INR 346.50 in the last trading session on Friday.

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

Earlier this month, the company announced allotment of 73,300 stock options under its employees stock option plan (ESOP 2012).

Last month, Delhivery announced the allotment of 8.6 Lakh equity shares, under its ESOP. It was followed by the allotment approval of 6.15 Lakh equity shares under ESOP 2012 and ESOP 2020 in September.

Earlier the company also put forth its plans to launch a network of multi-tenant dark stores for “rapid in city delivery” for ecommerce companies.