Ixigo Issues 211,912 Stock Options in ESOP Scheme Worth Rs 3.79 Crore
Ixigo, a leading Indian travel marketplace, has announced a significant Employee Stock Ownership Plan (ESOP) issuance. This move comes on the heels of the company's impressive financial performance, with net profits more than doubling in Q4 FY 2024-25. The ESOP scheme aims to foster a culture of ownership and shared success among employees, aligning their interests with long-term shareholder value.
The ESOP issuance saw 211,912 stock options granted to employees under four schemes: ESOP 2013, 2020, 2021, and 2024. These options will convert to equity shares on a pari passu basis with existing shares upon vesting and exercise. Employees have a five-year window post-vesting to exercise the options. The stock options were issued at an exercise price of Rs 93 per share and will vest in four equal annual tranches.
At the current share price, the cumulative value of the grant is approximately Rs 3.79 crore, with a potential per-option gain of Rs 85.96. This significant increase in value reflects Ixigo's strong financial performance. In Q4 FY 2024-25, the company reported a 72% year-on-year increase in revenue, reaching Rs 284 crore, and a 2.28x jump in net profits to Rs 17 crore.
The ESOP issuance is a strategic move by Ixigo to motivate and retain talent, while also aligning employee interests with long-term shareholder value. With the company's impressive financial growth, this move is expected to further boost employee engagement and commitment. The specifics of the ESOP schemes, including the employees who received options and their vesting periods, are internal information and not publicly available.
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