Bengaluru headquartered mobility platform Ola on Wednesday, announced that it has expanded its employee stock options plan (ESOP) pool to INR 3,000 crore. The company is also allocating an additional INR 400 crore worth of stocks to employees in the run-up to its IPO.
Bhavish Aggarwal, Founder, Ola, said, “Our expanded ESOP programme, along with the fresh stock allocation of INR 400 crore, enables our key talent to participate in the long-term wealth creation opportunities generated by their innovations and the impact they create.”
“It will also reinforce their sense of ownership and align their growth with that of the company as we continue to accelerate the world’s transition to sustainable mobility,” he added.
Over the last several months, the company has seen a substantial recovery in its ride-hailing business as customers look for safer ways to move, the company said. The company has invested significant resources in customer safety, including frequent fumigation, temperature checks, and more, cementing its position as the consumer’s preferred mobility choice.