Delhivery, a leading logistics unicorn, has announced the approval of 6.15 lakh equity shares under its employee stock option plans (ESOPs), marking a significant move towards employee ownership.
The company’s stakeholders’ relationship committee approved the allotment on September 9, 2024, according to an official exchange filing.
A total of 6,15,930 equity shares, each with a face value of Re. 1, were allotted following the exercise of vested options.
Of these, 1,94,630 shares were allocated under Delhivery’s ESOP 2012 plan, while the remaining 4,21,300 shares were issued under the ESOP III 2020 plan.
The exercise prices under the ESOP 2012 plan varied, with 67,377 options exercised at INR 1. 7,909 options at INR 16.28, and 1,19,344 options at INR 29.85.
For the ESOP III 2020 plan, the exercise price for 4,21,300 options was set at INR 0.10.
Based on Delhivery’s closing price of INR 408.95 on BSE on Monday, the total value of the allotted shares is estimated to be INR 25.18 Cr.
Following this allotment, Delhivery’s paid-up capital increased to INR 74 Cr, up from INR 73.94 Cr.
The company’s stock showed a positive trend, with share value closing at INR 414.60 with increase of +1.38% on the BSE on Tuesday.
In other developments, Delhivery has also received approval from the Ministry of Corporate Affairs (MCA) to establish a subsidiary, Delhivery Robotics India Private Limited, focused on offering Drone as a Service (DaaS) for shipment and remote sensing.
In terms of financial performance, Delhivery reported a strong net profit of INR 54.3 Cr in Q1 FY25, a turnaround from a net loss of INR 89.4 Cr in Q1 FY24, alongside a 13% year-on-year growth in revenue.
Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati, Delhivery is one of India’s top logistics companies, competing with Xpressbees, Blue Dart, Ekart, and Amazon Shipping.
