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News18
14 hours ago
- Business
- News18
Zomato Parent Eternal's Shares Boom, Executives Exercise ESOPs Worth Rs 419 Crore
ESOPs must be exercised before sale. Exercising gives executives the right to buy shares at a fixed, often lower strike price, allowing potential profit when sold later Shares of Eternal, Zomato's parent company, have hit an all-time high, creating a lucrative moment for employees, especially senior executives. On July 29 and 30, over 140 top officials exercised their Employee Stock Options (ESOPs), acquiring shares valued at Rs 419 crore. Employee stock options (ESOPs) must be 'exercised' before they can be sold. Exercising means an executive gains the right to buy company shares at a fixed, pre-agreed price called the strike price. This price varies for each executive but is usually lower than the current market price, allowing them to buy shares cheaply and potentially sell them later at a profit. Simply put, if the company performs well and its share price rises after listing, ESOP holders can make significant gains by selling their shares at higher prices. Companies issue ESOPs primarily to retain key executives over the long term. Executives Who Disclosed Their ESOP Exercise Details After exercising ESOPs, individuals can choose to either hold onto the shares or sell them. The decision is entirely theirs. According to The Economic Times, Blinkit CEO Albinder Dhindsa acquired shares valued at Rs 214.51 crore, making him the largest beneficiary among those who exercised their options. The remaining 31 executives have each acquired shares valued at over Rs 1 crore. Other notable executives, including Hyperpure CEO Rishi Arora, former Zomato food delivery CEO Rakesh Ranjan, his successor Aditya Mangala, and corporate development head Kunal Swaroop, collectively obtained shares worth Rs 378.50 crore, accounting for 90% of the total transaction. About half of the executives on this list are from Blinkit, while the rest are associated with Eternal, Zomato, Hyperpure, and District branches. Additional transactions included Kunal Swaroop's shares worth Rs 25.2 crore, Zomato's logistics AVP Adish Dhakad's Rs 24.1 crore, Blinkit's Udit Gupta and Aneesh Srivastava's Rs 14.8 crore and Rs 14.1 crore respectively, Rishi Arora's Rs 9.5 crore, and Blinkit's CTO Sajal Gupta's Rs 6.6 crore. Eternal Shares Overview Eternal, one of India's first major internet companies to go public in July 2021, initially priced its shares at Rs 76 each on BSE. Debuting at Rs 115, the stock peaked at Rs 138 on its first day before closing at Rs 125.85. A year later, on July 29, 2022, the stock plummeted to Rs 46.80 amid widespread declines in new-age company shares. However, following its acquisition of Blinkit (formerly Grofers) in June this year, Eternal's fortunes reversed. Blinkit quickly gained consumer trust, revitalising Zomato's shares, which soared to Rs 302.95 on December 6, 2024, delivering substantial returns to investors. Currently, Eternal's stock is trading above Rs 300. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
17 hours ago
- Business
- India.com
Zomato's parent company Eternal's shares surged! executives utilised option of…, Rs 46 shares now climbed to Rs…
Shares of Eternal, the parent company of Zomato, have surged to record highs and it is considered as a golden period for the company's long-time executives. In the last two days of July (29 and 30), over 140 executives exercised Employee Stock Options (ESOPs) worth Rs 419 crore. Blinkit CEO Albinder Dhindsa alone exercised shares worth Rs 214.51 crore. Eternal's stock, which had fallen to Rs 46 at one point, has now climbed to Rs 300. What Are Eternal's ESOPs? 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.
