Zomato allots shares worth Rs 200 crore to staff at Re 1 face value

Online food delivery platform Zomato, which is going through its worst phase at Dalal Street, has allotted nearly 4.66 crore shares to its employees from its employee stock option plan (ESOP) pool at the face value of Rs 1.

The board of directors approved the allotment of 4,65,51,600 equity shares to employees upon exercise of vested stock options, according to its filing with the stock exchanges.

The entire allotment is worth around Rs 200 crore (Zomaro’s share price was hovering around Rs 43 on Wednesday).

“We wish to inform you that the nomination and remuneration committee of the board of directors of the company at its meeting held on July 25, 2022, has approved the allotment of 4,65,51,600 equity shares having a face value of INR 1 each,