EMPLOYEE STOCK OWNERSHIP PLAN
Zerodha to end zero-brokerage model; Unacademy lays off 250 employees
Online stock broker Zerodha will likely discontinue its zero-brokerage structure due to new Sebi rules. More on this in today’s ETtech Top 5.
Zomato gets shareholder approval for Esop plan, gives up pursuit of NBFC licence
Food delivery company Zomato had proposed an Esop pool of 183 million shares. The new plan would mean a 2% stake dilution for existing shareholders, founder and CEO Deepinder Goyal had told shareholders in May, adding that the new pool would be sufficient for the next five years.
Japan stock ownership by foreigners rises to record 31.8%
Foreign ownership in Japanese stocks reached a record 31.8%, driven by Tokyo Stock Exchange and government initiatives to enhance corporate governance, making the market more attractive with its relatively low valuations.
ETMarkets Smart Talk: FII ownership at probably its lowest, but trend is changing: Ajit Banerjee
The market participants are convinced that the macro fundamentals and the fiscal condition of the country is very strong and India is poised to grow as the fastest-growing economy of the world for the next few years.
ESOPs exempt from GST, barring where foreign companies charge additional amount
The Central Board of Indirect Taxes and Customs (CBIC) clarified that multinational companies offering Employee Stock Purchase Plans (ESPPs), Employee Stock Option Plans (ESOPs), or Restricted Stock Units (RSUs) without additional charges will not attract GST. This decision benefits tech giants like Google, Microsoft, Oracle, and Walmart, alleviating tax litigation concerns
CEO succession planning is important. But how you go about it makes all the difference
Succession planning, including CEO succession plans and leadership pipelines, is crucial for company stability and success. Companies with robust succession plans outperform peers by 20% in revenue growth. Neglecting leadership pipelines can cost companies nearly $1 trillion annually, emphasizing the importance of effective planning.
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Musk plans stock option grants to Tesla's high-performers: Report
Elon Musk plans to introduce stock-based compensation at Tesla following shareholder approval of his $56 billion pay plan. The company aims to provide stock option grants for exceptional performance and award spot option grants for outstanding contributions amidst sales slowdown and intensifying price competition from Chinese rivals.
How Elon Musk's $44.9 billion Tesla pay package compares with the most generous plans for other US CEOs
Elon Musk won't get access to the stock options just yet, even with the reapproval vote. In 2018, January Delaware Judge said the shareholders weren't informed that Musk controlled the company's board and the process for approving was 'deeply flawed." But Tesla said Musk deserves the pay because he turned the company into the top-selling electric vehicle maker in the world.
How Elon Musk's $44.9B Tesla pay package compares with the most generous plans for other U.S. CEOs
Tesla shareholders on Thursday voted overwhelmingly in favor of restoring Musk's 10-year pay plan, valued by the company in April at $44.9 billion. It was worth more early in the year, but Tesla's stock value has fallen about 25% since then.
Nykaa grants 4.73 lakh shares under Esop scheme
FSN E-Commerce Ventures, operating Nykaa, allotted 4,73,138 equity shares under Esop scheme. Shares valued at Rs 8.08 crore. Managing director Falguni Nayar foresees $90-billion market growth.
Paytm shares soar over 8% after laying off employees as part of group restructuring
Paytm has been facing regulatory trouble after the RBI barred Paytm Payments Bank Ltd from accepting more deposits from February 29, owing to non-compliance. After declining 51% in the last one year, Paytm saw some positive action with the shares rising 13% this month.
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
Global capability centres go big on hiring gig employees
India's multinational hubs are increasingly turning to hiring contingent workers to meet immediate talent needs while remaining cautious about permanent recruitment due to a bearish global outlook. There has been a significant rise in demand for gig employees in the last six months, with an expected increase of up to 70,000 gig workers in the next six months. This trend allows companies to create a balanced workforce that is agile and cost-effective, with access to specialized skills.
SaaS company AiDash launches first ESOP buyback plan for employees
The company says the buyback, which comes on the back of its $58.5 million series C funding round, underscores its commitment to shared wealth creation.
Urban Company announces fifth Esop sale programme worth Rs 203 crore
Existing investors Vy Capital and Prosus Ventures, and Dharana Capital, an offshoot of Vy Capital, will be purchasing a majority of these shares from both current and former employees
Nykaa makes Rs 7.17 crore Esop allotment ahead of Q4 results
Companies typically expand their Esop pool to attract and retain talent, align employee and shareholder interests, and enhance overall performance. Private startups also institute buybacks of Esops to help create wealth for employees.
What is the advantage of borrowing against mutual fund units?
Borrow against equity or hybrid mutual fund units for immediate liquidity at 9-11% interest rates. Advantages include short-term monetary support without selling units, maintaining financial plan, and quick capital raise. Apply online through NBFC websites for a paperless process.
Zomato sees Esop costs rising on grant of stock options to Blinkit leadership
Costs incurred under the Esops head are non-cash expenses, and will rise in the ongoing fiscal “on account of grant of Esops to the Blinkit leadership team and senior employees,” the management said in a post-earnings call.
Esop non-disclosure triggers black money law
A number of resident individuals working in Indian subsidiaries and arms of offshore parents have recently received notices from the Income Tax (I-T) department which has pointed out amounts that either went undisclosed or untaxed or both.
Swadeshi to ahimsa, locks to rockets: How Godrej won the nation's trust
Godrej Group Split: The Godrej family, known for their diverse range of businesses, is splitting their business in an exceptionally amicable manner, showcasing trust among themselves. From innovative locks to vegetable oil soaps, the brand has a rich heritage rooted in innovation and trust. Their journey from locks to satellites mirrors India's progress.
What the split in Godrej conglomerate will mean for stakeholders & brand? Legal eagles explain
Supreme Court lawyaer HP Ranina says: The split is in the interest of the Godrej family as well as the stakeholders and if it is carried on in the right spirit, which I am sure it will be, then certainly everybody will stand to gain. Crawford Bayley's Sanjay Asher says he is sure that under the circumstances they have aligned it in a manner that no future disputes arise.
Stepping up to beat the heat: India Inc lines up cool work plans for staff this summer
Several companies in India are implementing flexible work practices for white-collar workers, particularly those in sales and field-related roles, to protect them from the extreme summer heat and maintain efficiency. With the Indian Meteorological Department warning of a potentially record-breaking hot year in 2024, companies like Panasonic, MG Motors, KPMG, Deloitte, Mudrex, and PeepalCo are adopting measures such as flexible work hours, online meetings, hydration stations, and awareness campaigns on heat exhaustion.
Prices can't dampen EV sales as it steps on leasing pedal
Leasing is becoming a key driver in electric vehicle (EV) sales in India, especially as the high upfront cost remains a barrier to adoption. Companies like Quiklyz, Ayvens, and Lithium Urban Technologies are witnessing significant growth in the EV leasing business. Fleet operators and logistics companies find leasing more economical than purchasing due to lower total cost of ownership and the ability to channel capital to other parts of their business. Leasing also offers flexibility and technology risk mitigation in the rapidly evolving EV industry.
The Sleep Company rolls out second tranche of Rs 2.4 crore ESOP buyback for employees
“The Sleep Company introduced its ESOP programme three years ago, with the goal of providing employees with consistent wealth creation opportunities. We strongly believe that every employee must be rewarded for their contribution to the growth and success of the company and thus employees across the board will get the same amount of ESOP under the current plan,” Priyanka Salot, cofounder, The Sleep Company, said in the statement.
ESOPs for state-bank staff: For PSB employees, stock may be an option; decision likely after elections
The proposal to offer employee stock ownership plans or ESOPs, has been on the backburner for a while but it may advance after the Lok Sabha polls, said people familiar with the development. “There have been talks with government last month on issues pertaining to PSBs, including ESOPs,” abank executive said, adding that lenders will soon present a framework to the government.
Pocket FM completes first ever Esop buyback worth $8.3 million
Pocket FM completes $8.3 million Esop buyback for 800 employees, with 25% Esops vested in the first year. Recently raised $103 million from Lightspeed Ventures and Stepstone Group, aiming for a $1.2 billion valuation with ADIA.
Is fractional ownership of real estate safe? Here's how SEBI is making it safer for retail investors
New Sebi rules on fractional ownership: Investors who were unable to buy whole property due to cash crunch can invest in the real estate via fractional ownership. However, without proper regulation, there was always a question whether such investments are safe. The new Sebi rules on REITs makes the fractional ownership of real estate investment safer for retail and HNI investors.
Community management app MyGate unveils Esop buyback
MyGate is offering employees across roles and business verticals who have worked for more than four years the opportunity to cash out 20% of their vested shares. The Bengaluru-based company’s revenue from operations surged over 77% to Rs 71 crore in FY23, up from Rs 40 crore in FY22.
Edtech startup Classplus unveils second Esop buyback, over 150 employees eligible
This is Classplus’ second offer in three years to repurchase shares issued under its employee stock ownership plan (Esop). More than 150 employees across roles and business verticals are eligible to sell their vested shares to the company, the edtech startup said in a news release. The youngest participant in this buyback is a 23-year-old, while the average age of the eligible staffers is 28 years, cofounder and CEO Mukul Rustagi said.
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