Delhivery Expands ESOP Pool With Additional Stock Options

Listed logistics major Delhivery has expanded its employee stock option plan (ESOP) pool by allocating 63,538 stock options to the eligible employees. 

“We wish to inform that the Nomination and Remuneration Committee (“NRC”) of the Board of Directors of the Company has approved the grant of 63,538 stock options under Delhivery Employees Stock Option Plan 2012 (“ESOP‐2012”) to the eligible employees of the Company on Monday, September 02, 2024,” Delhivery said in its regulatory filing.

As per Delhivery’s last closing price today (September 4), these stock options are valued at over INR 2.6 Cr.

The vesting of these options will take place over a period of four years, with 10% vesting after 12 months, 30% after 24 months, and the remaining at a rate of 15% every six months thereafter.

This is not the first instance of Delhivery expanding its ESOP pool in recent months. In August, the company granted 1,66,122 stock options under the same ESOP 2012 scheme. Prior to that, in July, Delhivery had allocated over 6.49 Lakh stock options across multiple ESOP schemes.

The latest grant comes after Delhivery’s Q1 FY25 financial results announcement on August 02, 2024.

In Q1 FY25, the company reported a net profit of INR 54.3 Cr, a significant turnaround from 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.