Ola, a mobility platform, has announced the expansion of its employee stock options (ESOP) pool to ₹3000 crores. It is also allocating an additional ₹400 crores worth of stocks to employees in the run up to its IPO. This allocation rewards Ola’s high impact employees and will lead to long term wealth creation for them.
“At Ola, we’re focused on creating the industries of tomorrow with the ambition to build globally competitive, high impact businesses at global scale. Our expanded ESOP programme, along with the fresh stock allocation of ₹400Cr, 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” said Bhavish Aggarwal, Ola’s Founder.
Over the last several months Ola has seen recovery in its ride hailing business as customers look for safer ways to move. It also attempts to move the world to sustainable mobility through its ride hailing platform as well as through advanced electric vehicles manufactured at its Futurefactory.