EMPLOYEE STOCK OPTION
Esop culture making India Inc top execs richer
Top executives at major Indian companies saw their wealth increase by over ₹10,300 crore due to successful employee stock options. Firms like L&T, Infosys, and ICICI Bank used Esops to reward and retain talent amid rising poaching. This trend reflects the growing importance of stock-linked incentives in compensation packages.
General Insurance Corp's OFS sees 3% subscription so far from retail investors on Day 2
On Thursday, retail investors showed a 3.3% subscription rate for the General Insurance Corp offer for sale (OFS) on its opening day for retail participation. The issue had been available for non-retail investors since Wednesday.
General Insurance Corporation's OFS sees strong demand with 108% subscription on Day 1
As part of the OFS, the government has opted to exercise the greenshoe option, increasing the total stake sale to 6.78%. The government plans to sell up to a 3.39% equity stake on September 4 for non-retail investors. At an offer price of Rs 395 per share, the sale is expected to generate approximately Rs 4,700 crore for the government's exchequer.
GIC Re shares tumble over 5% as government offloads stake via OFS
GIC Share Price: Shares of General Insurance Corporation (Re) of India dropped by 5.4% to Rs 398.60 as the government began selling its 6.78% stake via an offer for sale at a floor price of Rs 395 per share. The total size of the OFS is estimated at Rs 4,701 crore.
Govt to sell 6.78% stake in GIC Re via OFS, sets floor price at Rs 395/share
The issue, estimated at Rs 4,701 crore, opens for non-retail investors on Wednesday and for retail investors on Thursday. Employees can subscribe to 50,000 shares.
Reliance Retail awards Rs 351 crore worth of ESOP to leadership team ahead of IPO
Reliance Retail awarded ESOPs to director V Subramaniam, chief executive for grocery retail Damodar Mall, president and chief executive of fashion and lifestyle business Akhilesh Prasad, president and chief business officer of electronics retail Kaushal Nevrekar, group chief business operations Ashwin Khasgiwala and chief executive of fashion ecommerce platform Ajio Vineeth Nair.
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Sebi pulls up Paytm founder Vijay Shekhar Sharma, director on IPO breaches: report
The issue revolves around whether Sharma should have been classified as a large shareholder, rather than an employee, when Paytm filed its IPO papers, the report said, citing two people aware of the matter.
Paytm shares drop 9% following report of Sebi's show-cause notice to Vijay Shekhar Sharma
Paytm Share Price: Paytm shares saw a 9% dip to Rs 505.25 following news that SEBI issued show-cause notices to Vijay Shekhar Sharma and ex-board members. The allegations involve misrepresentation during the IPO, focusing on Sharma’s promoter classification. This classification is significant due to regulations on ESOPs for promoters post-IPO.
Tata Digital rolls out Esops for its senior execs to push performance
Tata Digital has launched a new employee stock option plan (Esop) for the top deck under chief executive Naveen Tahilyani amid significant turnover in the company's senior leadership. It is following new-age companies like Flipkart and Razorpay that employ Esops as a retention tool and a wealth-creating method for employees.
Tata Digital launches new Esop programme for its senior executives
Tata Digital introduced a fresh employee stock option plan for its senior executives, approved at the recent annual general meeting. The initiative, led by CEO Naveen Tahilyani, is designed to encourage a performance-based culture. The plan includes a minimum vesting period of three years and aims to increase revenue and improve consumer experience.
Blue Star Q1 Results: Standalone net profit soars 89.5% to Rs 146.06 crore
Air conditioning and commercial refrigeration maker, Blue Star reported an 89.5% growth in the standalone net profit of Rs. 146.06 crores in the first quarter ended June 2024, as compared to Rs. 77.07 crores in the corresponding quarter of the previous year.
Sebi amends REIT, InvIT rules; issues framework for unit-based employment benefit scheme
Sebi introduces a unit-based employee benefit scheme for REITs and InvITs, allowing managers to grant unit options to employees. The rules, effective from July 12, aim to provide benefits without additional costs to the trusts. The scheme requires disclosure and follows insider trading rules.
Zomato gets shareholder approval for Esop plan, gives up pursuit of NBFC licence
Food delivery company Zomato had proposed an Esop pool of 183 million shares. The new plan would mean a 2% stake dilution for existing shareholders, founder and CEO Deepinder Goyal had told shareholders in May, adding that the new pool would be sufficient for the next five years.
Musk plans stock option grants to Tesla's high-performers: Report
Elon Musk plans to introduce stock-based compensation at Tesla following shareholder approval of his $56 billion pay plan. The company aims to provide stock option grants for exceptional performance and award spot option grants for outstanding contributions amidst sales slowdown and intensifying price competition from Chinese rivals.
Nykaa grants 4.73 lakh shares under Esop scheme
FSN E-Commerce Ventures, operating Nykaa, allotted 4,73,138 equity shares under Esop scheme. Shares valued at Rs 8.08 crore. Managing director Falguni Nayar foresees $90-billion market growth.
Paytm shares soar over 8% after laying off employees as part of group restructuring
Paytm has been facing regulatory trouble after the RBI barred Paytm Payments Bank Ltd from accepting more deposits from February 29, owing to non-compliance. After declining 51% in the last one year, Paytm saw some positive action with the shares rising 13% this month.
Former Allianz employee pleads guilty to fraud over $7 billion funds meltdown
Former Allianz fund manager Gregoire Tournant pleaded guilty to investment adviser fraud charges related to the $7 billion losses in private funds during the COVID-19 pandemic meltdown. Tournant misled investors about fund risks, altered performance data, and obstructed an SEC probe. Allianz agreed to pay $6 billion to resolve the case, with two other managers also pleading guilty. Tournant had previously denied the charges but changed his plea.
LTIMindtree CEO pay up 10%, LTTS chief’s package jumps over 100%
Debashis Chatterjee fixed pay was Rs 9.33 crore, variable compensation at Rs 9.9 crore for the fiscal 2024. The median remuneration of employees of LTIMindtree during the financial year grew by 12% to Rs 14,00,009. In FY23, the median remuneration of the employees was Rs 12,49,992.
India seeks firms make additional disclosures to fast track public offers, document shows
SEBI wants companies seeking to go public to provide 31 additional disclosures, including details on conflicts of interest. The regulator aims to expedite public offers by requiring more information from merchant bankers, as reported by Reuters.
High-speed traders pile into big short on volatility in India
While the high-speed traders sell options, long-only funds and retail investors buy contracts to make speculative bets or protect themselves against sudden market drops and are often on the other side of the trade, the people said.
Nykaa makes Rs 7.17 crore Esop allotment ahead of Q4 results
Companies typically expand their Esop pool to attract and retain talent, align employee and shareholder interests, and enhance overall performance. Private startups also institute buybacks of Esops to help create wealth for employees.
Railways stocks: Stay bullish, just hedge a bit to avoid mistake of selling in haste: 7 outperforming railways stocks across different segments
Even the best of the rational brain can make wrong decisions when there is too much noise which gets created due to a narrative. Now for the last few days a narrative has been created that due to polls, FPI are selling. These kinds of narratives tend to hit the sector and stocks which are sitting with big gains and are dependent on government policy push. Railways was among the last sectors to get re-rated due to the policy focus. Whether it was companies which are financing the expansion of railways or private sector companies which are making coaches, all of them have done extremely well. Given the fact the railways is likely to be the focus area, the long term story remains intact. Only thing is that one might end up selling the long term winner early because of the narrative. Rather than getting jittery, it would be better to create a hedge and stay with the stocks where there has been a big change in the fundamental ways things operate and the sector has a long runway.
Zomato sees Esop costs rising on grant of stock options to Blinkit leadership
Costs incurred under the Esops head are non-cash expenses, and will rise in the ongoing fiscal “on account of grant of Esops to the Blinkit leadership team and senior employees,” the management said in a post-earnings call.
Esop non-disclosure triggers black money law
A number of resident individuals working in Indian subsidiaries and arms of offshore parents have recently received notices from the Income Tax (I-T) department which has pointed out amounts that either went undisclosed or untaxed or both.
Paytm parent One97 Communication approves grant of 91,250 stock options
Paytm parent company One97 Communications on Friday announced approval of grant of 91,250 stock options under ESOP 2019. The Nomination and Remuneration Committee of the company's board has also approved allotment of fully paid-up 2,91,388 equity shares having face value of Rs 1 each to eligible employees under ESOP 2008 and 2019, as per a stock exchange filing.
ESOPs for state-bank staff: For PSB employees, stock may be an option; decision likely after elections
The proposal to offer employee stock ownership plans or ESOPs, has been on the backburner for a while but it may advance after the Lok Sabha polls, said people familiar with the development. “There have been talks with government last month on issues pertaining to PSBs, including ESOPs,” abank executive said, adding that lenders will soon present a framework to the government.
Pocket FM completes first ever Esop buyback worth $8.3 million
Pocket FM completes $8.3 million Esop buyback for 800 employees, with 25% Esops vested in the first year. Recently raised $103 million from Lightspeed Ventures and Stepstone Group, aiming for a $1.2 billion valuation with ADIA.
Ipca Laboratories shareholders reject employees stock option scheme resolution
The Employee Stock Option Scheme, being a special resolution, required at least 75 per cent votes in favour. Only 63.8 per cent of the votes polled were in favour of the resolution with 36.19 per cent against, as per the filing.
Flipkart tweaks merit approach, converts hikes into payouts
Flipkart changes increment policy, offering merit-linked payouts and 100% bonuses to employees. Lump sum payments replace salary hikes. Last year, Flipkart had frozen hikes of 30% staff including senior leadership among tough macroeconomic conditions. In January 2023, ET had reported that Flipkart has begun a workforce reduction exercise that could see its total team size decrease by 5-7% and be completed by March-April as part of performance reviews.
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