Beauty and fashion ecommerce giant Nykaa has allocated 1.73 lakh equity shares to its employees under its Employee Stock Option Plan (ESOP) schemes.
The move, announced on July 15, 2024, by the Nomination and Remuneration Committee of FSN E-Commerce Ventures Limited, sees a total of 173,800 equity shares allotted.
According to the company’s exchange filing, these shares were allocated following the exercise of vested stock options under the ESOP schemes.
Based on the stock’s last closing price of ₹180.45 on BSE, the newly allotted shares have a cumulative value of ₹3.13 crore.
This development comes nearly a month after Nykaa allocated over 4.73 lakh equity shares under the ESOP scheme and follows the grant of 4.05 lakh stock options under the same scheme in May this year.
Nykaa’s strategy aligns with a broader trend among Indian startups, with many of the companies relying on ESOPs to attract talent back to the ecosystem in 2024.
Notably, companies like Zomato, Delhivery, CarTrade, Paytm, and Tracxn have also made recent stock option grants to their employees.
In addition to its internal growth strategies, Nykaa is projecting a robust revenue increase of approximately 22-23% year-on-year for the first quarter of FY25, with an expected rise in gross merchandise value (GMV) in the mid-twenties percentage range year-over-year.
Nykaa reported an impressive 80% increase in consolidated net profit to INR 69 crore in FY24, with operating revenue growing 24% to INR 6,385.6 crore.
