Delhivery Expands ESOP Pool, Allots 20K Stock Options

Logistics major Delhivery has expanded the pool size of its employee stock option plan with a fresh allotment of 20,000 stock options.

In an exchange filing today (December 6), the company said its board has approved the allotment of 20,000 stock options under the Delhivery Employees Stock Option Plan 2012.

The newly-alloted stock options are convertible into one fully paid‐up equity share having face value of INR 1 each, the filing showed.

Of these, 20% will vest upon the completion of 12 months from the date of allotment, 30% will vest after 24 months, and the remaining 50% will vest after 36 months from the date of grant.

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. 

Last month, Delhivery expanded the pool size of its employee stock option plan (ESOP) with a fresh allotment of 4.90 Lakh stock options.

Also, it announced allotment of 11,21,541 stock options to eligible employees under its three different employee stock option plans.

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

Earlier in August, the company also said that it is planning to launch a network of multi-tenant dark stores for “rapid in city delivery” for ecommerce companies.

Shares of Delhivery ended today’s trading 5.91% above at INR 353.05 on the BSE.