Ola, a mobility platform, on Wednesday, expanded its ESOP (employee stock option plan) pool to ₹3,000 crore, by allocating additional stocks worth ₹400 crore to employees ahead of its proposed public float.
“Our expanded ESOP programme, along with the fresh stock allocation of ₹400 crore enables our key talent to participate in the long term wealth creation opportunities generated by their innovations and the impact they create,” said Bhavish Aggarwal, Ola’s Founder.
The new ESOP addition would also reinforce their sense of ownership and align their growth with that of the company as it continued to accelerate the world’s transition to sustainable mobility, he added.
The allocation would have a high impact on employees as it would lead to long term wealth creation for them, the company said.
Ola claimed, over the last several months, it has seen a strong recovery in its ride hailing business. The mobility firm has invested significant resources in customer safety including frequent fumigation, temperature checks and more, it said in a statement.
