Zomato seeks approval from shareholders for creation of new ESOP pool

Zomato is planning to set up a fresh employee stock option plan (ESOP) of 18.26 crore shares worth Rs 3,500 crore. This new ESOP pool will cater to the next five years, said the company.

The company, in a regulatory filing, said that under the ESOP 2024, it will grant shares of 18.26 crore to the employees of the company. Zomato’s current share price at the end of the market day was Rs 193.7.

As part of its fourth-quarter results, the management announced its intention to set up an additional ESOP. The company also said that it has sought shareholder approval for the creation of this ESOP, which is 2 per cent of the firm’s outstanding share capital on a fully diluted basis.