Ola expands ESOP pool to Rs 3,000 cr, allocates additional stocks worth Rs 400 cr to staff ahead of IPO
The ride-hailing aggregator said the allocation rewards its high impact employees and will lead to long-term wealth creation for them
Ola on Wednesday announced the expansion of its employee stock options plan (Esop) pool to Rs 3,000 crore. The company is allocating additional stocks worth Rs 400 crore to employees ahead of its IPO.
“At Ola, we’re focused on creating the industries of tomorrow with the ambition to build globally competitive, high impact businesses at a global scale. Our expanded ESOP programme, along with the fresh stock allocation of Rs 400 crore, enables our key talent to participate in the long term wealth creation opportunities generated by their innovations and the impact they create. It will also reinforce their sense of ownership and align their growth with that of the company as we continue to accelerate the world’s transition to sustainable mobility” said Bhavish Aggarwal, Ola’s founder.
The ride-hailing aggregator said the allocation rewards its high impact employees and will lead to long-term wealth creation for them.
Over the last several months, it has seen a strong recovery in its ride-hailing business as customers look for safer ways to move. Ola has invested significant resources in customer safety, including frequent fumigation, temperature checks and more, the company said in a statement.
The ride-hailing aggregator is looking to list on the Indian exchanges by the first half of 2022.
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