7.8 Lakh Equity Shares Are Allotted by Delhivery Under ESOP Plans

The allocation of 7.8 lakh equity shares for the exercise of vested options under its employee stock option plan (ESOP) has been approved by logistics giant Delhivery. In an exchange filing, Delhivery Limited stated that on December 10, 2024, the stakeholders' relationship committee authorised the issuance of 7,84,927 equity shares with a face value of INR 1 each, fully paid up against the execution of vested options. The allocation of these shares was made under ESOP 2012 for 1.96 lakh shares, ESOP II 2020 for 1.2 lakh shares, and ESOP III 2020 for the remaining 4.6 lakh shares.

The firm has fixed the exercise price for 96,350 stock options under ESOP 2012 at INR 29.85, 1,915 stock options at INR 16.28, 95,882 stock options at INR 1, and the remaining 2,200 stock options at INR 0.1. The exercise price for all stock options under ESOP II 2020 and ESOP III 2020 is INR 0.10.

Marginal Increase in Paid-Up Capital

The startup's paid-up capital climbed slightly to INR 74.3 Cr from INR 74.2 Cr after these shares were allocated. Delhivery's stock was down 0.67% from its previous closing of INR 380.85 at 1:26 PM, trading at INR 378.30. This occurs at a time when Delhivery recently added 20,000 new stock options to the pool size of its ESOP 2012. The business also distributed 8.6 lakh equity shares under its ESOPs a few months ago.

Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati founded Delhivery, a logistics, supply chain, and transportation firm, in 2011. Amazon Shipping, Flipkart's Ekart Logistics, Blue Dart, and Xpressbees are some of the competitors of the logistics powerhouse.

Notably, Delhivery approved the allocation of 6,15,930 equity shares with a face value of INR 1 just one month prior to the current ESOP expansion. In addition, on September 2, it granted 63,538 stock options to qualified workers.

Current Financial Dynamics

Anindya Ghose, a non-executive independent director of Delhivery, resigned last week, citing a number of personal obligations. Additionally, the startup intends to intensify its focus on speedier delivery services by establishing a network of multi-tenant dark stores that would offer e-commerce businesses swift delivery. Compared to a loss of INR 102.9 Cr in the same quarter last year, Delhivery reported a consolidated net profit of INR 10.2 Cr in the second quarter of FY25. In the quarter under review, service revenue increased 13% to INR 2,189.7 Cr from INR 1,941.7 Cr in the same period last year.

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