Zomato's parent company Eternal's shares surged! executives utilised option of…, Rs 46 shares now climbed to Rs…
ESOPs are company-issued shares granted to employees mostly at a pre-decided 'strike price' lower than the market price so they can buy it at cheaper price and sell later for profit. Companies typically issue ESOPs to retain executives for the long term. Once vested, these options can be exercised, and the shares can either be held or sold at the executive's discretion. How Executives Exercised ESOPs?
According to The Economic Times, Dhindsa's transaction was the largest among the executives, while 31 others also exercised ESOPs worth over Rs 1 crore each. These included Hyperpure CEO Rishi Arora, former Zomato food delivery CEO Rakesh Ranjan, his successor Aditya Mangla, and Corporate Development Head Kunal Swaroop. Together, they accounted for Rs 378.50 crore worth of shares, representing 90% of the total value. Nearly half of the executives were from Blinkit, with others coming from Eternal, Zomato, Hyperpure, and District.
Other notable transactions included Kunal Swaroop (Rs 25.2 crore), Zomato's AVP of Logistics Adish Dhakad (Rs 24.1 crore), Blinkit's Udit Gupta (Rs 14.8 crore) and Anish Srivastava (Rs 14.1 crore), Hyperpure's Rishi Arora (Rs 9.5 crore), and Blinkit CTO Sajal Gupta (Rs 6.6 crore). How Is Eternal Share Performing?
Eternal was among India's first major internet companies to go public in July 2021, with an IPO price of Rs 76 per share. It listed at Rs 115 on the BSE, touched a high of Rs 138 the same day, and closed at Rs 125.85. By July 29, 2022, its shares had dropped to Rs 46.80 amid a sector-wide decline in new-age company stocks. That year, Eternal acquired Blinkit (formerly Grofers), a move initially met with investor skepticism.
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