Ola Expands its ESOP Pool to Rs. 3,000 crore in additional of Rs 400 crore worth stocks to employees ahead of IPO

A press released stated that, Over the last few months, Ola has seen a strong recovery in its ride-hailing business as customers look for safer ways to move

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Since Ola has said to be the Ride-hailing firm it said that it has expanded its ESOP pool to Rs 3,000 crore and allotted an additional Rs 400 crore worth of stocks to employees ahead of IPO.

During the ongoing press release Bhavish Aggarwal, Ola’s Founder, said,  “Our expanded ESOP programme, along with the fresh stock allocation of ₹400Cr, 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.”

Over the past few months, Ola has being witnessing  a strong recovery in its ride-hailing business as customers look for safer ways to move.

Earlier in this month OLA has raised upto $500 million from private equity giants Warburg Pincus and Temasek, another move it said was in preparation for its Initial Public Offering. Early investor Matrix Partners also sold a portion of its stake in this round.

Ola’s IPO timeline is unclear, but it is the latest among a slew of internet startups to seriously weigh listing, ending years of investor anticipation. While food delivery firm listed successfully last week, insurance firm Policybazaar, fintech firm Paytm and online retailer Nykaa too are expected to list soon.

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