Zomato Gives Its Employees 4.66 Crores Shares at a 98% Discount Rate

  • In a filing on Tuesday, Zomato said that the nomination and remuneration committee of its board of directors has approved the allotment of 4,65,51,600 equity shares to employees upon exercise of vested stock options.
  • Even at its lifetime lows of Rs 40.55, the entire allotment is worth Rs 188.75 crore, which was given at the face value of Re 1 each, accounting for close to Rs 4.66 crore. It is about a 98 per cent discount from the latest stock lows.