Fintech major MobiKwik, which has filed its draft red herring prospectus (DRHP), on Tuesday said the listing should provide bountiful rewards to its employees through the ESOPs issued to them.
Fintech major MobiKwik, which has filed its draft red herring prospectus (DRHP), on Tuesday said the listing should provide bountiful rewards to its employees through the ESOPs issued to them.
The company, under its ESOP 2014 Scheme, has reserved 4.5 million equity shares for creating a pool of ESOPs for the benefit of the eligible employees.
MobiKwik Chairperson, co-founder, and COO Upasana Taku said the number of equity shares that would arise from the full exercise of options granted implies 7 percent of the fully diluted outstanding shares.
"This 7 percent compares to less than 2 percent holding for most other internet companies that are coming up for listing... Over the last decade, MobiKwik has grown on the strength of its employees to become a leading fintech player in India. As we cement our presence and leadership further, we wanted to acknowledge and reward our employees for their efforts," she added.
The Gurgaon-based company - which has about 470 employees - had filed its DRHP with the Securities and Exchange Board of India (Sebi) in July.
The company plans to offer shares aggregating to Rs 1,900 crore in its IPO, of which Rs 1,500 crore is a fresh issue while the remaining Rs 400 crore is an offer for sale by existing shareholders.
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