Delhivery Expands ESOP Pool, Allots 50.1K Stock Options

Listed logistics major Delhivery has expanded its employee stock option plan (ESOP) pool by allocating 50,100 stock options to eligible employees. 

“We wish to inform (you) that the Nomination and Remuneration Committee (“NRC”) of the board of directors of the company has approved the grant of 50,100 stock options under Delhivery Employees Stock Option Plan 2012 (“ESOP‐2012”) to the eligible employees of the company on Tuesday, October 01, 2024,” Delhivery said in its exchange filing.

These stock options are worth over INR 2.09 Cr as per Delhivery’s last closing price. 

The vesting of these options shall occur over four years from the date of grant. Of these 50.1K stock options, 10% will be vested after 12 months, 30% after 24 months, and the remaining at a rate of 15% every six months after that.

The latest ESOP expansion follows the grant of 63,538 stock options in September under Delhivery Employees Stock Option Plan 2012. 

Prior to that in August, the company granted 1,66,122 stock options under the same ESOP 2012 scheme and in July it allocated over 6.49 Lakh stock options across multiple ESOP schemes.

On the financial front, the startup has been able to record a significant turnaround from loss to profit in Q1 FY25 as it reported a net profit of INR 54.3 Cr in the quarter, from a net loss of INR 89.4 Cr in the year-ago period of 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.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.