employee stock ownership plan

Muthoot Finance, the largest profit-making company in Kerala, will permanently be shutting down 300 of the total 611 branches in the state, said managing director George Alexander Muthoot.

The start-up community had expected some more sops from the Government in the upcoming budget regarding ESOP taxation for start-ups.

Startups and VC firms are seeking a simplified tax regime and measures to increase domestic capital availability in the upcoming Budget. They emphasize parity in taxation between foreign and domestic funds to attract foreign investors and foster growth for Indian AIFs.

This story has been updated

Reliance General Insurance has obtained a legal opinion that states IndusInd Holding's resolution plan cannot extinguish any stock options or other employee benefits. IndusInd International Holdings has emerged as the successful bidder for Reliance Capital. RCap's most valuable holdings are the shares it owns in its 100% subsidiary Reliance General Insurance. IndusInd Holding's resolution plan involves raising funds to pay creditors of Reliance Capital by creating a charge on the shares of Reliance General Insurance.

IndusInd Bank MD and CEO Sumant Kathpalia is planning to sell some of his shares in the private sector lender to settle loans and vesting of upcoming ESOP, the bank said on Wednesday.

Finance minister Nirmala Sitharaman on Saturday said dividend distribution tax (DDT) has been shifted to individuals instead of companies. The government plans 100 per cent tax concession to sovereign wealth funds on investment in infra projects, she added.

Around 500 Swiggy employees are set to become crorepatis as the food delivery platform prepares for its stock market debut. The IPO is expected to create an Rs 8,690-crore windfall through ESOPs, benefiting 5,000 current and former employees. This move follows similar successful ESOP buyback schemes by companies like Flipkart and Freshworks.

In one of the largest employee stock ownership plans (ESOP) by a startup, payments major PhonePe has issued shares worth over $200 million or Rs 1,500 crore to all its 2,200 staff across all levels, including freshers. This ESOP comes soon after PhonePe was spun-off from Flipkart as a separate entity at a valuation of $5.5 billion in December 2020.

ShareChat (Mohalla Tech) declared the conclusion of a $49 million funding round through convertible debentures on Monday. The round was spearheaded by current investors Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures, and HarbourVest, along with others.The company stated that this influx of capital will support the advancement of its Ad targeting technology .

Fintech unicorn Razorpay is buying back shares worth $10 million, or Rs 73 crore, from its staff under the ESOP (employee stock ownership plan) pool.

Honasa Consumer, the parent company of Mamaearth, The Derma Co, and the House of Brands, has raised $52 million in a round led by Sequoia. The round saw participation from Belgium-based Sofina Ventures, and Evolvence, a UAE-based India-focused fund.

Paytm, which is allowing employees to become shareholders before its upcoming mega public offering, will facilitate liquidity to pay share price and employee stock ownership plan (ESOP) tax through loans of up to Rs 100 crore.

Budget carrier SpiceJet has extended its employee stock ownership plan (ESOP) scheme to certain mid-level employees as well as "critical resource" staff for the role they played in the company amid the Covid-19 crisis, sources said on Tuesday.

French IT services firm Capgemini, which has 1.2 lakh of its 2 lakh employees in India, is rolling out a new ESOP (employee stock ownership plan) that covers 96% of employees. This is its seventh employee ownership plan and is aligned to development and performance goals.

Shivam Singh, a BTech computer science final year student of Lucknow University, has grabbed a placement offer worth Rs 15 lakh per annum, plus employee stock ownership plan (ESOP), in a Gurugram-based software company.