Page 3 - Esops

Religare board rallies behind chairperson Saluja, defends her share sale

Financial services company rejects Ingovern's allegation of excessive remuneration

InGovern raises red flags over Care Health Esops to REL's Rashmi Saluja

The source said Care Health could, therefore, pass a fresh resolution for the grant of Esops to Saluja without requiring any Irdai approval

Defer your tax liability from ESOPs by extending exercise period

For more favourable tax treatment at sale, hold the acquired shares for more than a year

RGIC takes legal opinion on Hinduja's plan to extinguish ESOPs of RCAP

Hinduja-led IIHL -- the successful bidder for Reliance Capital under insolvency proceedings -- cannot extinguish the employees stock options (ESOPs) and other incentive schemes for the Reliance General Insurance Company (RGIC) employees, a subsidiary of Reliance Capital, according to legal opinion taken by Reliance General Insurance. The legal opinion was necessitated as IIHL in its resolution plan for Reliance Capital has sought to extinguish all employees stock option plans, phantom stocks or similar incentive schemes of Reliance Capital and its subsidiaries, including RGIC, so that no additional cost is incurred after the takeover. Reliance General Insurance has issued ESOPs to its employees. Khaitan & Co in its legal opinion submitted to the RGIC has opined that under IBC, treatment of assets and liabilities of subsidiary companies are not permitted to be prescribed under a resolution plan for the holding company. The IBC recognises the principle of 'separate legal entity', ...

Coforge Q2 results: Net profit declines 10% to Rs 181 cr, revenue up 16%

IT company Coforge on Thursday posted a 10 per cent year-on-year decline in consolidated net profit for the September quarter at Rs 181 crore, partly on account of a one-time increase in ESOP costs. The IT solutions company reaffirmed its 2023-24 revenue growth guidance of 13-16 per cent. Consolidated Profit After Tax (PAT) for the second quarter of the current fiscal was at Rs 181 crore, 10 per cent lower than the year-ago period. However, the PAT for the quarter was 9.5 per cent higher when compared sequentially. The net profit (attributable to owners) was Rs 201.1 crore in the year-ago period. Revenue from operations came in at Rs 2,276.2 crore in the quarter under review, rising over 16 per cent from Rs 1,959.4 crore in the corresponding period of the previous fiscal. The company attributed the 10 per cent year-on-year drop in net profit to a one-time increase in ESOP (employee stock option plan) costs in the quarter. Coforge, in a statement, said it gave all increments on ti

BFSI companies go the whole hog to retain talent, prevent poaching

Companies are providing internal career switch opportunities with promotions, upskilling opportunities, quarterly incentives, and Esops across the ranks to retain talent

Shareholders thwart Kerala-based Federal Bank's ESOP extension plan

Not enough takers for plans to extend schemes for associate firms, subsidiaries

Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study

Stock offer key component in increments for senior leadership roles, it says

ESOP buybacks among Indian start-ups may resurge as macro headwinds ebb

ESOP buybacks, the primary method of liquidation for employee-owned stocks, usually follow the prevailing funding trend

Zypp Electric allocates Rs 1.5 crore for buyback, first in EV industry

Zypp Electric said the allocation has been made to 15 employees who have been in the company for over a year

Swiggy announces 2nd tranche of ESOP liquidity programme for employees

On-demand convenience platform, Swiggy on Monday announced the second tranche of its committed USD 50 million (nearly Rs 410 crore) ESOP liquidity programme for eligible employees. Swiggy had in 2021 committed to a two-year ESOP liquidity programme for 2022 and 2023 and the first tranche of USD 23 million (over Rs 180 crore) was announced in June last year. In a blogpost, Swiggy said it has initiated "the second tranche of its committed ESOP liquidity program totalling USD 50 million". As part of this planned 2-year ESOP liquidity program, Swiggy said, "Employees will have the option to receive liquidity totalling up to USD 50 million against their ESOPs. This event will also see eligible employees from Dineout which Swiggy acquired last year participate." Over 2,000 employees are eligible, including those who transitioned from Dineout, it added. Swiggy Head of HR Girish Menon said the ESOP programme was announced to enable consistent wealth creation for employees "through two ...

Swiggy announces second tranche of ESOP buyback plan totaling $50 mn

Employees who moved from Dineout after Swiggy bought it last year, will also be eligible for the liquidity programme

Swiggy set to buy back Esops worth $50 million from its 2,000 employees

The Esop liquidation exercise was part of Swiggy's announcement in 2021, where the company had said that its employees would be rewarded for their performance in 2022 and 2023

Flipkart employees to receive cash payout from $700m Esop buyback

Following Phonepe separation, the ecommerce platform is also offering investors and Esops holders the option to reinvest their payout

Rebel Foods offers ESOPs worth Rs 550 cr to kitchen, corporate employees

The firm competes with players such as Curefoods, Biryani By Kilo, Box8, and FreshMenu

ESOP payouts, buybacks plummet among Indian start-ups amid funding winter

While the funding slowdown has had no significant impact on the issuance of ESOPs, a liquidity crunch has caused the once-overflowing well of ESOP buyback programs to run dry

IT major Infosys rewards employees with equity shares under 2 schemes

Under the 2015 Stock Incentive Compensation Plan, 104,335 equity shares were allotted and 407,527 shares were allotted under the Infosys Expanded Stock Ownership Program 2019

WeWork India offers employees to surrender up to 25% of vested stock option

Co-working major WeWork India on Thursday announced that its employees are eligible to surrender up to 25 per cent of vested stock options. "WeWork India is conducting its first-ever ESOP surrender exercise, offering employees the opportunity to make the most of their vested stock options," the company said in a statement. "As a token of gratitude for the employees' commitment, efforts and faith in the company, team members associated with the company will be eligible to surrender up to 25 per cent of vested stock options," it added. Karan Virwani, Chief Executive Officer, WeWork India said, the ESOP surrender is yet another step towards wealth creation and empowering people. Over the last six years, WeWork India has expanded to six cities across 45 locations with a member base of over 62,000. WeWork India is one of the leading office space providers, aimed at creating flexible workspace solutions for companies of all sizes.

ESOPs: Market regulator Sebi could tweak regulations for start-ups

Sebi does not want founders to own stock options if they have rights akin to those enjoyed by promoters, the sources with direct knowledge of the matter said

Sebi looking for ways to plug gaps allowing founders to own stock options

The Securities and Exchange Board of India (SEBI) does not want founders to own stock options if they have rights akin to those enjoyed by promoters