New Delhi: Fintech major MobiKwik, which has filed its draft purple herring prospectus (DRHP), on Tuesday said the listing have to serene present a bountiful rewards to its workers by the ESOPs issued to them. The corporate, below its ESOP 2014 Device, has reserved 4.5 million equity shares for growing a pool of ESOPs for the nice thing referring to the eligible workers.
MobiKwik Chairperson, co-founder and COO Upasana Taku said the series of equity shares that would possibly perhaps well perhaps perhaps arise from the fat train of alternatives granted implies 7 per cent of the fully diluted prominent shares.
"This 7 per cent compares to now now not up to 2 per cent maintaining for many other web companies which would possibly perhaps well perhaps perhaps be coming up for listing... Over the final decade, MobiKwik has grown on the strength of its workers to change into a main fintech participant in India. As we cement our presence and leadership further, we wished to acknowledge and reward our workers for their efforts," she added.
The Gurgaon-primarily based totally company - which has about 470 workers - had filed its DRHP with Securities and Alternate Board of India (Sebi) in July.
The corporate plans to present shares aggregating to Rs 1,900 crore in its IPO, of which Rs 1,500 crore is a new anxiousness whereas the final Rs 400 crore is a proposal on the market by present shareholders.
MobiKwik - which offers solutions treasure mobile wallet and Decide Now Pay Later (BNPL) - had raised a series G spherical of USD 20 million from Abu Dhabi Funding Authority (ADIA) at a per-fragment place of Rs 895.80 per fragment. This means a 600 per cent ranking on sensible for the workers on their ESOPs, Taku said.
"This six-fold amplify within the ESOP place has created generational wealth for the workers. It's the cease consequence of every the trust confirmed by workers within the company's imaginative and prescient and the partnership-treasure scheme taken by the company in sharing the rewards of place generation over time with the workers," she added.
On the series G funding spherical valuation of USD 720 million, seven workers are price extra than Rs 10 crore and 31 are price extra than Rs 1 crore each.
Also, 118 present workers (almost one-fourth of the total employee sinister) relish change into rupee millionaires, highlighting the company's philosophy of guaranteeing equitable participation versus right specializing within the leadership crew, Taku said.
"The cumulative wealth introduction for the workers for the time being stands at Rs 3 billion. With the company's upcoming IPO, these workers are residing to reap in a windfall," she added.
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