Logistics unicorn Delhivery has allotted 8,22,310 equity shares under its various employee stock option (ESOP) schemes, as per an exchange filing on February 11.
The move follows shareholder approval for the allotment, with each share having a face value of INR 1, fully paid-up against the exercise of vested options.
With this allotment, Delhivery’s paid-up share capital has increased from INR 74.35 Cr to INR 74.44 Cr.
The company’s shares closed today’s trading session at INR 273.65 per share on the Bombay Stock Exchange (BSE), placing the total value of the newly allotted shares at approximately INR 22.50 Cr.
Breakdown of Allotted Shares
Out of the total 8.2 Lakh equity shares allotted:
- 1.8 Lakh shares were issued under ESOP 2012
- 5.3 Lakh shares were issued under ESOP II 2020
- 1.01 Lakh shares were issued under ESOP III 2020
The exercise price for the allotted shares varied:
- 65,740 options under ESOP 2012 were exercised at INR 1, while 1,21,220 options under the same scheme were exercised at INR 29.85.
- 5,34,050 options under ESOP II 2020 were exercised at INR 0.10.
- 1,01,300 options under ESOP III 2020 were exercised at INR 0.10.
According to the filing, employees can exercise their vested options at any time from their respective vesting dates, in accordance with the terms of the grant.
Recent Developments
The ESOP allotment follows Delhivery’s recent appointment of two independent directors to its board.
The company has onboarded Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Sameer Mehta, Co-founder and CEO of boAt, as non-executive independent directors.
Their appointments will take effect from February 17, 2025.
Strong Q3 Performance
In addition, Delhivery recently reported its financial results for Q3 FY25.
The company’s consolidated net profit surged by 114% year-on-year to INR 24.98 Cr from INR 11.70 Cr in the corresponding quarter of the previous year.
The impressive profit growth was driven by strong revenue performance.
Including other income of INR 98.66 Cr, Delhivery’s total revenue for the quarter ended December 31, 2024, stood at INR 2,476.96 Cr.
