PhonePe allots stock options worth $200 million to employees

Fintech major PhonePe has allotted stock options worth $200 million (about Rs 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 $700 million in funding, valuing it at $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.