Delhivery grants new ESOP worth 46.3 Cr to employees

Delhivery allots ESOPs worth Rs 46.3 Cr to 66 employees

Delhivery issued 146,961 Series I preference shares at an issue price of Rs 38,000 per share on September

Delhivery, a logistics and supply chain services company, has granted new ESOPs to over a dozen former and present employees immediately after submitting its drafts red herring prospectus (DRHP) to earn Rs 7,460 crore through an initial public offering (IPO) (IPO).

According to the company’s regulatory filings, Delhivery approved a special resolution to issue 12,17,500 equity shares worth Rs 46.3 crore to 66 workers who exercised their stock options.

With 215K shares worth Rs 8.2 crore, 172K shares worth Rs 6.53 crore, 92K shares worth Rs 3.5 crore, and 64K shares worth Rs 2.44 crore, Sanjay Rao, Hrishikesh Kelkar, Sabyasachi Senapati, and Vikram Khurana are the greatest beneficiaries in this ESOP issuance.

Importantly, on September 2, Delhivery issued 146,961 Series I preference shares at an issue price of Rs 38,000 per share, which were convertible into equity shares at a 1:100 ratio. According to the most recent issuance, each equity share was valued at Rs 380. Only last month, Delhivery offered bonus shares to stockholders, with over 90 persons and organizations named as beneficiaries. This year, the startup founded by Sahil Barua has received more than $500 million in multiple stages. In September, Lee Fixel’s Addition led a $125 million round.

Delhivery began as an e-commerce logistics startup and has now expanded to become a full-stack logistics and supply chain solutions provider. It offers quick parcel delivery, heavy goods delivery, and warehousing. In India, the firm claims to have 20 completely and semi-automated sortation centres and 86 gateways.

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