Online fashion and beauty commerce platform Nykaa on Tuesday announced fresh employee stock option (ESOP) options for its employees under the new ESOP scheme.
The nomination and remuneration committee of FSN E-Commerce Ventures Limited (parent of Nykaa) has agreed to grant 4,05,000 stock options to its employees, the disclosure filed with the National Stock Exchange (NSE) shows.
Every ESOP option will be converted into equity shares, said filings. According to Fintrackr’s estimates, the newly added ESOP options are worth around Rs 7 crore. The calculation is based on Nykaa’s peak share price of Rs 177 (as of 11.38 AM, May 21, 2024).
The objective of expanding the ESOP pool is to promote employee ownership and as well as to attract, retain, and motivate talents in line with corporate growth.
While the firm is set to file Q4 FY24 results, its revenue from operations surged 18.7% to Rs 1,788 crore during the third quarter of FY24 from Rs 1,507 crore in Q2 of the same fiscal year. Notably, its gross merchandise value rose to Rs 3,619.4 crore in the third quarter.
