Foodtech
Zomato Grants 40M ESOPs, Valued at Nearly Rs 890 Cr
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ByStartupStory | July 12, 2024
Foodtech giant Zomato has approved Employee Stock Options (ESOPs) grants of 40 million stocks under its 2014 and 2021 plans, valued at Rs 892.19 crore based on an opening price of Rs 219 apiece.
In a regulatory filing, the company stated, “Stock Options granted shall be capable of being exercised within ten years from the date of vesting of options or twelve years from the date of Listing, whichever is later.”
The approval comes amid recent developments where Zomato faced shareholder dissent over its ESOP expansion plan, narrowly securing majority approval despite significant opposition.
Zomato’s quarterly earnings report disclosed plans for an ESOP pool of 18.26 crore employee stock options, amounting to approximately 2% of its fully diluted outstanding share capital. At current market rates, this ESOP is valued close to Rs 4,000 crore.
Addressing strategic decisions, Zomato clarified in a separate filing its intention not to pursue lending and credit operations, withdrawing its application with the Reserve Bank of India for NBFC certification through its finance arm.
The company is also focusing on expanding its stepping-out segments, recently recalling senior executives to bolster these verticals. Additionally, Zomato has been in advanced discussions with Paytm regarding the acquisition of the latter’s events and ticketing business.
“We are committed to enhancing shareholder value through strategic allocation of resources and focusing on growth areas that align with our long-term vision,” remarked a spokesperson from Zomato.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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