Delhivery, a digital delivery platform offering logistic startup expanded its Employee Stock Option Plan  by offering its employees with more than 6.49 lakh stock options. The company claims to develop operating systems for commercial purposes through a combination of world-class infrastructure, and  logistics operations using its advanced and cutting-edge technology. These newly allocated employee  stock option plan shares are worth around Rs 25.45 crore. 

The company mentioned in a stock exchange filing that the board approved granting 6,49,547 equity  shares at a face value of Rs 1 per share to those under the Delhivery employee stock option plan. Out  of these 6,49,547 equity shares, the company allotted 3.42 lakh equity shares under Delhivery ESOP  2012 plan followed by 1.87 equity shares under ESOP II 2020, and around 1.19 lakh equity shares were  allocated under ESOP III 2020 scheme. The startup previously announced that 20 percent of its newly  granted ESOPs will be vested in a year with 30% vested in 2 years, while the remaining 50 percent will  have a vesting duration of 36 months from the date of grant. 

Inc42 mentioned that the paid-up share capital of this startup will increase after this allotment to Rs  73.91 crore. This marks the third time this logistic startup increased its ESOP’s pool size in the last  month. The company previously expanded its pool size under the ESOP 2012 scheme by allocating  75,000 stock options. The development came after the company reported a net loss of Rs 69 crore in  its fourth quarter of FY24. The company is also planning to establish its subsidiary, Delhivery Robotics  India to provide Drones as a service option for remote sensing and shipment. 

The logistic startup reported an increase in its overall income to Rs 2,194.5 crore in FY24. However, the  operational revenue also decreased by 5 percent quarter-to-quarter to Rs 2,076 crore in the same  duration. The company has been dealing with internal challenges such as a decrease in express parcel  and cross-border services deliveries. The stock options under the ESOP scheme offered by the startup  have a price set at Rs 1 per share. Delhivery offers a platform that enables its users to connect over  various services and track their packages across India. Many startups announced their ESOP expansion  plans to offer liquidity to employees including Paytm, Nykaa, and Purplle. 

Conclusion: 

Delhivery expanded its employee stock option Plan by allocating 6,49,547 equity shares to its  employees. These newly allocated shares are worth around Rs 25.45 crore. The logistic startup  manufactures drones and offers a platform that allows its users to track their packages across India.  This is the third time this company has expanded its employee stock option plan in the last month.  Delhivery’s ESOP 2012 scheme allowed the allotment of 3.42 lakh equity shares to employees followed  by 1.87 lakh shares shares under the stock unit plan of ESOP II 2020 and 1.19 lakh equity shares under  ESOP III 2020 scheme.