Exclusive: Spinny Expands Its ESOP Pool With An Additional 24 Mn Stock Options

Exclusive: Spinny Expands Its ESOP Pool With An Additional 24 Mn Stock Options

SUMMARY

Spinny will be adding an additional 2.37 Cr (23.7 Mn) options, taking its total ESOP pool size to 17 Cr (170.8 Mn) options

Based on the startup’s last valuation in July 2023, the fair value of each equity share of Spinny is INR 54.85

The Sachin Tendulkar-backed startup introduced a new ESOP plan in 2022 and announced the completion of a $12 Mn ESOP buyback in 2021

Pre-owned car marketplace Spinny has expanded its Employee Stock Ownership Plan (ESOPs) scheme by granting an additional 2.37 Cr (23.7 Mn) options.

As per the startup’s filing with the Ministry of Corporate Affairs, the board of the Delhi NCR-based startup passed a resolution approving the expansion of its ESOP pool to 17.8 Cr (170.8 Mn) options. This would be subject to the startup approving the approval of the shareholders.

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