Online travel aggregator ixigo has announced the allotment of over 4.6 lakh equity shares to its employees under its existing employee stock option schemes (ESOS).
The company disclosed the development in a regulatory filing, highlighting the allocation of 4,65,216 equity shares with a face value of INR 1 each across ESOS 2013, ESOS 2016, ESOS 2020, and ESOS 2021.
This allotment has resulted in an increase in ixigo’s issued and paid-up share capital, which now stands at INR 38,87,31,094, up from INR 38,82,65,878.
Expansion of ESOP Pool
In a separate filing dated December 27, ixigo announced the expansion of its ESOP pool under ESOS 2012, ESOS 2013, and ESOS 2016.
As part of this expansion, the company granted 6,90,796 additional stock options to eligible employees.
Each option carries an exercise price of INR 93, and the shares will vest in equal annual installments over four years.
This follows last month’s grant of 17.57 lakh stock options under ESOP 2024, further reflecting ixigo’s commitment to employee equity participation.
Financial Performance
On the financial front, ixigo reported a sharp decline in its consolidated net profit during Q2 FY25.
The profit fell 51% to INR 13.08 crore from INR 26.70 crore in the same quarter last year, and 12% sequentially from INR 14.85 crore in Q1 FY25.
The decline was primarily attributed to a significant rise in total tax expenses, which amounted to INR 5.26 crore in Q2 FY25.
About ixigo
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo began as a travel search platform, helping users compare flight deals.
In FY20, it transitioned into a full-fledged online travel agency (OTA), offering services such as flight bookings, train and bus tickets, hotel reservations, and holiday packages.
The company went public in June 2024, marking a significant milestone in its growth journey.
The recent ESOP allotment and financial developments underline ixigo’s commitment to rewarding its employees while navigating a challenging fiscal environment.
