Separator

Ola rewards employees with INR 400 crores of its stocks

Separator

Recently, Ola Cabs, India's multinational ride-sharing company, announced that it is allocating stocks worth INR 400 crores to employees in the run-up to its initial public offer (IPO). The ride-sharing company is also expanding the employee stock options pool (ESOP) to INR 3000 crores ahead of its IPO.

Bhavish Agarwal, the company's founder said, “Our expanded ESOP programme, along with the fresh stock allocation of INR 400 crore enables our key talent to participate in the long term wealth creation opportunities generated by their innovations and the impact they create.”

Ola Cabs is an Indian multinational ride-sharing company proposing facilities that include vehicle for hire and food delivery. The company is based in Bengaluru, Karnataka, India. Ola was valued at about US$6.5 billion