We are discussing Logistic Startup Delhivery to Expand its ESOP Pool with Allotment of 75k Stock Options:
Delhivery is a logistic startup based in Gurugram that reported an allotment of 75k stock options under its ESOP. The company mentioned that the board approved granting 75k stock options to those under the Delhivery employee stock option plan. The stock options will be available for vesting in three years from the granted date.
The company stated that 20 percent of newly granted ESOPs will be vested in 12 months, followed by 30% within 24 months, and the remaining 50 percent will have a visiting duration of 36 months from the grant date. The stock options under the ESOP 2012 scheme had an exercise price set at Rs 1 per share. This new announcement was made after the startup reported its financial results. Delhivery faced a net loss of Rs 69 crore in its fourth quarter for this fiscal year. The company previously had a loss of Rs 159 crore; however, the firm’s overall income saw growth from Rs 1,934.2 to Rs 2,194.5 crore.
This unicorn also had operational revenue decrease by 5 percent to Rs 2.076 crore in the Quarter for March 2024. The startup also mentioned setting up its wholly-owned subsidiary, Delhivery Robotics India. This arm of Delhivery will focus on manufacturing drones and will target the global market rather than only the domestic market. Delhivery mentioned that this new vertical will provide Drones as a service option for shipment and remote sensing.
Delhivery CEO Sahil Baura highlighted that this year was crucial for the team. Although the company faced loss, it delivered consistent service levels, completed more than half of the planned long-term capital investments, and improved profitability. This logistic unicorn has clients, including Softbank Group International, OYO, IndusInd Bank, Bharti Airtel Ltd., and more.
Conclusion
Last month, the logistic startup Delhivery reported a net loss of Rs 68 crore. This Gurugram-based reported an allotment of 75,000 stock options under its ESOP. The company stated that 20 percent of newly granted ESOPs will be vested in 12, followed by 30% within 24 months, and the remaining 50 percent will have a visiting duration of 36 months from the grant date. The stock options under the ESOP 2012 scheme had an exercise price set at Rs 1 per share. The startup also mentioned setting up its wholly-owned subsidiary, Delhivery Robotics India.
This arm of Delhivery will focus on manufacturing drones and will target the global market rather than only the domestic market. Delhivery mentioned that this new vertical will provide Drones as a service option for shipment and remote sensing. The startup mentioned that it will be focusing on expanding its services. The startup provides analytic solutions and is focused on enhancing services to track their package across India. The company previously had a loss of Rs 159 crore; however, the firm’s overall income saw growth from Rs 1,934.2 to Rs 2,194.5 crore.
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