Of these 3,97,169 equity shares, 3,73,472 shares have been granted with the exercise price of INR 10 and the remaining 23,697 shares were allotted at the exercise price of INR 262
As per the stock’s closing price on Friday, the newly allotted ESOPs are worth over INR 18.03 Cr
The ESOPs issuance follows after it was reported in November last year that the company would likely sell its shares worth INR 150 Cr in a block deal
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Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, has expanded its employee stock option plan (ESOP) pool by allocating 3,97,169 to its eligible employees.
In an exchange filing today (August 2), the company said that it has approved a total grant of 3,97,169 stock options under Honasa Consumer Limited Employee Stock Options Plan – 2018 (“ESOP – 2018”) to the eligible employees.
Of these 3,97,169 equity shares, 3,73,472 shares have been granted with the exercise price of INR 10 and the remaining 23,697 shares were allotted at the exercise price of INR 262.
As per the stock’s closing price on Friday, the newly allotted ESOPs are worth over INR 18.03 Cr.
Honasa further said in the filing that all the vested options can be exercised by the employee at any time during the continuation of his tenure or within 90 days from the date of the last working day of the employee in the company.
The ESOPs issuance follows after it was reported in November last year that the company would likely sell its shares worth INR 150 Cr in a block deal.
Earlier in 2021, Honasa granted ESOP worth INR 20 Cr for all their employees.
A notable figure of 66.2 Lakh shares, representing 2% equity of Honasa, were traded in a bulk deal last month. The transaction was valued at approximately INR 291 Cr.
On the business front, Honasa, in May, bought the assets of Thane-based skincare company CosmoGenesis Labs to strengthen its research and development as well as manufacturing capabilities.
In April, its board approved the amalgamation of two of its wholly owned subsidiaries, Just4Kids Services Private Limited and Fusion Cosmecutics Private Limited, with itself. However, this amalgamation was subject to various regulatory approvals.
Founded in 2016 by the husband-wife duo Varun and Ghazal Alagh, Honasa’s product portfolio comprises six beauty and personal care brands which include Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt and Dr. Sheth’s.
Honasa posted a consolidated net profit of INR 30.47 Cr in the fourth quarter of the fiscal year 2023-24 (FY24). Its operating revenue zoomed 21% YoY to INR 471.09 Cr in Q4 FY24 from INR 387.8 Cr in the year-ago quarter.
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