Delhivery Expands ESOP Pool With Allotment Of 8.6 Lakh Equity Shares

SUMMARY

Of the total allotment,1,21,545 equity shares are allotted under Delhivery employee stock option plan 2012 (ESOP 2012) and 3,50,000 equity shares under Delhivery Employee Stock Option Plan II 2020 (ESOP II 2020)

3,92,100 equity shares are alloted under Delhivery employee stock option plan III 2020 (ESOP III 2020)

Based on the stock’s closing price on Wednesday, the total value of the new stock options translated to INR 35.8 Cr

Two months after listed logistics giant Delhivery approved 6.15 Lakh equity shares, the company has announced the allotment of 8.6 Lakh equity shares, under its employee stock option plans.

In an exchange filing on October 9 (Wednesday), Delhivery said it has received approval from its board to allot 8,63,645 equity shares of face value INR 1 each.

“The stakeholders’ relationship committee of Delhivery Limited (‘Company’) on Wednesday, October 09, 2024, approved the allotment of a total of 8,63,645 (Eight Lakh Sixty‐Three Thousand Six Hundred Forty‐Five Only) equity shares of face value Re. 1/‐ each fully paid up against the exercise of vested options, Delhivery said in its filing.

Of these, 1,21,545 equity shares are allotted under Delhivery employee stock option plan 2012 (ESOP 2012) and 3,50,000 equity shares under Delhivery Employee Stock Option Plan II 2020 (ESOP II 2020).

The remaining 3,92,100 equity shares were allotted under Delhivery employee stock option plan III 2020 (ESOP III 2020).

“The equity shares so allotted shall rank pari‐passu with the existing equity shares of the company in all respects,” the company’s filing said.

Under the ESOP 2012, the startup has set the exercise price at INR 0.1 for 1,500 stock options, INR 1 for 22,900 options, INR 16.28 for 815 options and INR 29.85 for 96,330 stock options.

Delhivery under ESOP II 2020 has fixed the exercise price at INR 0.10 for 3,50,000 stock options and INR 0.10 for 3,92,100 stock options under ESOP III 2020.

Based on the stock’s closing price on Wednesday, the total value of the new allotted stocks translates to INR 35.8 Cr.

Following the allotment of the aforementioned shares, the paid-up share capital of Delhivery increased to INR 74,09,01,946 from INR 74,00,38,301, it reported

Meanwhile, shares of Delhivery closed at INR 414.75 in the last trading session and opened at INR 420.95 on Thursday.

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.

Notably, the recent ESOP expansion comes right after a month of Delhivery approving the allotment of 6,15,930 equity shares of face value INR 1. Besides this, it allocated 63,538 stock options to eligible employees on September 02.