Delhivery allots 1.1 million new vested equity shares to employees

Delhivery has announced the approval for the allotment of 1,106,060 equity shares, valued at Rs. 1 each, following the exercise of vested options.

This decision, made by the Stakeholders’ Relationship Committee on June 10, 2024, includes allocations under three Employee Stock Option Plans: 285,960 shares under ESOP 2012, 349,600 shares under ESOP II 2020, and 470,500 shares under ESOP III 2020.

"The equity shares so allotted shall rank pari-passu with the existing equity shares of the Company in all respects." Delhivery said in an exchange filing. This means these new equity shares will hold the same rights as the existing shares.

As a result, Delhivery's paid-up share capital has risen from Rs. 73,74,43,940 to Rs. 73,85,50,000.

Following the issuance of equity shares upon the exercise of options, Delhivery Limited's diluted loss per share for Q4 FY24 stands at Rs. 1.31, the company said in an exchange filing.

Delhivery reported a net loss of Rs 68.5 crore in the quarter ended March 31, 2024—an improvement of 57% from Rs 159 crore incurred in the corresponding period last year.

Further, the logistics company reported that it had turned EBITDA positive in FY24. EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) increased by Rs 578 crore to Rs 127 crore in FY24 from an EBITDA loss of Rs 452 crore in FY23, the company said.

Meanwhile, recently in May, beauty and wellness e-commerce company Nykaa announced it has granted 4.05 lakh stock options under its Employee Stock Option Policy (ESOPs) scheme ahead of its fourth-quarter results.