Zomato granted nearly 20 lakh equity shares to eligible employees under various employee stock option plans (ESOPs), ahead of its Q2 FY25 earnings announcement for the quarter ending September 2024, on Tuesday, October 22.
Zomato approves 19.66 lakh equity shares to employees
In an exchange filing, Zomato, led by Deepinder Goyal, stated its board has approved the allotment of 19.66 lakh equity shares, each with a face value of INR 1, as fully paid-up. This follows the exercise of 13.17 lakh vested options by identified employees of the company and its subsidiaries.
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The company allocated 6.49 lakh equity shares under Zomato ESOP Plan 2018, 3.12 lakh shares under ESOP Plan 2021, and 10.04 lakh shares under ESOP Plan 2022. With this new allotment, Zomato’s issued, subscribed, and paid-up equity share capital has increased to INR 883.6 Cr from INR 883.4 Cr.
Zomato to announce Q2 FY25 earnings
Meanwhile, Zomato shares opened at INR 267.65 each on the BSE today. Based on the last opening price, the newly-allotted shares are worth a total of INR 52.6 Cr. Zomato will announce its Q2 FY25 earnings later today. In the June quarter, Zomato’s consolidated net profit jumped to INR 253 Cr from INR 2 Cr in the same period last year.
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Its operating revenue increased by 74% to INR 4,206 Cr in the June quarter, up from INR 2,416 Cr in Q1 FY24, due to strong growth from its quick commerce arm, Blinkit.
According to industry reports, Zomato’s board is likely to review and approve a proposal to raise INR 8,500 Cr, marking its first fundraise since going public in 2021. In an October 17 exchange filing, the company stated it would seek board approval to raise funds by issuing equity shares through qualified institutional placement.
