Yes Bank, FSN E-commerce Ventures, IIFL issue ESOPs to employees

Indian e-commerce company Nykaa’s parent company FSN E-Commerce Ventures has allotted 4.73 lakh shares under its employee stock option plan, or ESOP. The shares are valued at around Rs 8.08 crore, as per Nykaa’s closing price of Rs 170.95 on the BSE on June 13, 2024. Earlier on May 20, Nykaa had allotted 4.05 lakh shares under the ESOP scheme. The purpose of the ESOP at Nykaa is to attract quality talent, retain them and align their interests with those of shareholders, and generally improve the company’s performance. Granting stock options will help employees grow with the company. It is worth mentioning here that Nykaa reported a consolidated net profit of Rs 6.9 crore for the quarter ending March 2024, which is 187 per cent higher than the Rs 2.4 crore reported in the same period last year. The company’s revenue from operations for the quarter grew 28 per cent year-on-year to Rs 1,668 crore.

FSN E-Commerce Ventures reported a 67 per cent increase in annual consolidated net profit to Rs 32.2 crore for the year ended March 31, 2024.

IIFL Securities has granted 3,69,500 share options under ‘IIFL Securities Employee Stock Option Scheme – 2018’ (IIFL ESOS Scheme-2018) on June 14, 2024. This is part of the company’s efforts to retain and motivate employees.

These share options, as per the SEBI Share-Based Employee Benefits Regulations, 2021, can be converted into one fully paid equity share. The subsidy is expected to increase employees’ sense of ownership and loyalty.

A total of 3,69,500 options were issued, each with an exercise price of Rs. 189.45 which can be acquired within four years from the date of grant. Therefore, employees will receive progressive rewards for continuous work. It is also possible to redeem the reserves within seven years from the date of their allocation.

Yes Bank also allotted 31,38,137 shares under ESOP on June 15, 2024. Accordingly, the paid-up share capital of Yes Bank increased from Rs 62,66,50,47,150 – consisting of 31,33,25, 23,575 equity shares worth Rs. 2 pieces – up to Rs 62,67,13,23,424, consisting of 31,33,56,61,712 equity shares of Rs 2 each.