As per the stock’s opening price on Friday (June 14), the newly allotted shares are worth more than INR 9.72 Cr
This is the second increment in the Falguni Nayar-led new-age beauty and fashion retailer’s stock pool size in less than a month
Nykaa is the latest in the string of new-age tech companies that are leaning on ESOPs to rebuild their employee brand after mass layoffs at big internet firms made job seekers increasingly reluctant to join startups
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Beauty and fashion ecommerce major Nykaa has expanded the pool size of its employee stock option plan (ESOP) by allocating more than 4.73 Lakh equity shares to its employees.
“We wish to inform you that the Nomination and Remuneration Committee of FSN E-Commerce Ventures Limited (‘Company’) on June 14, 2024 has allotted 4,73,138 Equity Shares of face value Re.1/- each towards the exercise of vested Employee Stock Options under Employee Stock Option Scheme of the Company,” the company said in a stock exchange filing.
As per the stock’s opening price on Friday (June 14), the newly allotted shares are worth more than INR 9.72 Cr.
This is the second increment in the Falguni Nayar-led new-age beauty and fashion retailer’s stock pool size in less than a month.
On May 20, Nykaa announced it had granted 4.05 Lakh stock options under its ESOP scheme, which came nearly two years after the company’s last major stock option grant.
Under Nykaa’s ESOP 2022 scheme, it granted 16 Lakh shares to its employees and 4 Lakh units under the Stock Unit Plan, 2022.
With the latest ESOP allotment disclosure, Nykaa has joined the long list of new-age tech companies that are leaning on ESOPs to rebuild their employee brand after mass layoffs at big internet firms made job seekers increasingly reluctant to join startups.
As per Inc42’s Indian Startup Founder Survey 2023, nearly 55% of founders were banking on ESOPs to woo employees back to the startup ecosystem in 2024.
Earlier this week, logistics unicorn Delhivery allotted 11.06 Lakh ESOP shares to its employees, worth nearly INR 43 Cr, as per the stock’s closing price on June 11.
While Paytm also allotted over 87,000 ESOPs in May, Policybazaar parent PB Fintech allocated over 48 Lakh ESOPs earlier this month.
Nykaa posted a 80% year-on-year (YoY) jump in its net profit in the financial year 2023-24 (FY24) to INR 69 Cr as against INR 38.39 Cr in the previous fiscal year. Revenue from operations soared 24% YoY to INR 6,385.6 Cr during the year under review, as compared to INR 5,143.8 Cr in FY23.
At the time of writing, shares of Nykaa were trading at INR 166.15 apiece on BSE, down 0.75% from Thursday’s closing price of INR 166.90 per share.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.