Nykaa, a fashion and beauty e-commerce startup is expanding its Employee Stock Option Plan by offering its employees with more than 4.73 lakh equity shares. These newly allocated shares are worth around Rs 9.72 crore. The company sells wellness, beauty, and fashion products through its apps, website, and offline stores across the country.
The company mentioned in a stock exchange filing that the nomination and Remuneration committee of FSN e-commerce Ventures allowed the allocation of 473,138 equity shares for Rs 1 each under the Employee stock option scheme of the company. This marks the second increment of this fashion e commerce startup in a one-month interval. Nykaa previously announced that it allocated 4.05 equity shares under the ESOP scheme in May after its last major stock option was approved.
Inc42 mentioned that Nykaa’s ESOP 2022 scheme allowed the allotment of 16 lakh shares to employees, followed by 4 lakh shares under the stock unit plan. The ESOP expansion came after the mass layoff of the company. The startup is now leaning on its ESOP to rebuild its employee brand. The parent company of Nykaa, FSN e-commerce also has a loss in shares by 3 percent. The company is expecting a 2k basis point EBITDA margin by the end of FY26.
Nykaa is expecting a GMV growth of 40 percent CAGR and 3 times increase in its net sale values in the next three to four years. The beauty and fashion brand made its stock market debut at an IPO price of Rs 1,123 in 2021. The stock options under the ESOP scheme offered by the startup have an exercise price set at Rs 1 per share. The reports mentioned that the board approved granting these stock options to those under the Nykaa employee stock option scheme.
Conclusion
Nykaa recently reported a 3 percent loss in its shares. This beauty and fashion brand reported an allotment of 4.73 lakh equity shares under its ESOP scheme. Nykaa is a known beauty and skincare brand in India that offers wellness, beauty, fitness, and fashion products to its customers. The products are available via its website, app, and offline stores available throughout the country. The nomination and Remuneration committee of FSN e-commerce Ventures allowed the allocation of 473,138 equity shares for Rs 1 each under the Employee stock option scheme of the company. The increment marks the second increment for the startup in a month. Nykaa’s ESOP 2022 scheme allowed the allotment of 16 lakh shares to employees followed by 4 lakh shares under the stock unit plan. The startup is still focused on developing new products and expanding its services. The stock options under the ESOP scheme offered by the startup have an exercise price set at Rs 1 per share. This Mumbai-based beauty startup is expanding its Employee Stock Option Plan by allocating its employees with more than 4.73 lakh equity shares. These newly allocated shares have a worth of Rs 9.72 crore.
