PhonePe allots stock options worth ₹1,458.6 crore to its 2.2k employees

Fintech major PhonePe has allotted stock options worth USD 200 million (about ₹1,458.6 crore) to its 2,200 employees, a month after the company was partially spun off from Flipkart.

In December, Flipkart had announced the partial spin-off of PhonePe, as the digital payment firm had raised USD 700 million in funding, valuing it at USD 5.5 billion.

At that time, Flipkart had said the spin-off would offer PhonePe an opportunity to create a tailor-made equity incentive or ESOP programme for its employees.