Nykaa, the leading beauty and wellness e-commerce platform, has unveiled a significant move by granting 4.05 lakh stock options through its Employee Stock Option Policy (ESOP) scheme, just ahead of its eagerly anticipated fourth-quarter financial results due tomorrow.
Founded by Falguni Nayar, Nykaa’s parent company, FSN E-Commerce Ventures Limited, officially disclosed this development in a filing with the Bombay Stock Exchange (BSE). According to the announcement made on May 20, 2024, the Nomination and Remuneration Committee of FSN E-Commerce Ventures Limited approved the granting of these stock options, amounting to approximately Rs 7.13 crore based on the current trading price of Rs 176 per share.
Nykaa’s foray into the ESOP landscape dates back to October 2022 when it initiated its ESOP scheme. This recent allocation of stock options underscores the company’s strategic vision to attract and retain top-tier talent in a fiercely competitive market.
Notably, Nykaa isn’t the only player harnessing the power of ESOPs to motivate its workforce. In a similar vein, Zomato, the food delivery giant helmed by Deepinder Goyal, unveiled plans to establish an additional ESOP pool comprising 18.26 crore employee stock options. This move, equivalent to around 2% of Zomato’s fully diluted outstanding share capital, aims to cater to the needs of its workforce, especially senior management personnel at Blinkit, over the next five years.