PB Fintech Allots 75,760 Equity Shares Under ESOP Plan

Listed insurtech major PB Fintech has allotted 75,760 equity shares to eligible employees under its employee stock option plan (ESOP).

In an exchange filing, the company said that its board passed a resolution on September 4 (Wednesday) to allot 75,760 equity shares of face value INR 2 each to eligible employees upon exercise of vested options under the PB Fintech ESOP 2021 scheme.

With the fresh allotment, the issued and paid-up equity share capital of PB Fintech has increased to INR 91.22 Cr from INR 91.20 Cr earlier.

Shares of PB Fintech opened the Thursday’s trading session at INR 1720.05 apiece on the BSE. As per the stock’s opening price today, the newly-allotted equity shares are worth INR 13.03 Cr.

It is pertinent to note that PB Fintech had also allotted 48.3 Lakh equity shares under its ESOP plan in June.

The new ESOP update comes after the Gurugram-based company reported its third consecutive profitable quarter in early August.

PB Fintech posted a consolidated net profit of INR 59.98 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25) as against a loss of INR 11.9 Cr in the year-ago quarter.

Meanwhile, the company’s operating revenue also jumped 51.8% to INR 1,010.5 Cr in Q1 FY25 from INR 665.6 Cr in the year-ago quarter, influencing its shares to opened at an all-time high of INR 1,664.35 apiece on the BSE on August 7, rallying over 16% in opening trade, a day after the results.

This development comes at a time when startups across sectors have been expanding and allocating employee stock option plans for their eligible employees.

For instance, the logistics major Delhivery expanded its ESOP pool, a day ago, by allocating 63,538 stock options. 

Meanwhile, Honasa Consumer board approved the allotment of 5,79,849 equity shares under ESOP, earlier this week. 

Updated at 04:42 PM

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