Le Travenues Awards Rs 3.79 Crore in Stock Options to Employees
Le Travenues Technology Limited, the parent company of Ixigo, has awarded 211,912 stock options to employees, worth approximately Rs 3.79 crore at current stock market prices. The move aims to motivate and retain talent, aligning employee interests with long-term shareholder value. The options will vest in four equal annual tranches, with a five-year window for exercise post-vesting.
The stock options were issued at an exercise price of Rs 93 per share and will convert to equity shares on a pari passu basis with existing shares once vested and exercised. The founder and CEO, Emmanuel Adewale, hopes this will foster a culture of ownership within the company.
Ixigo's strong financial performance in Q4 of fiscal year 2024-25 supports this initiative. Net profits more than doubled to Rs 17 crore, a 2.28x jump, while revenue increased by 72% year-on-year to Rs 284 crore. This growth may be attributed to the company's innovative strategies and dedicated workforce.
With a potential per-option gain of Rs 85.96, the stock options grant is a significant incentive for Le Travenues Technology Limited's employees. The company's robust financial performance and commitment to employee growth suggest a promising future for both shareholders and staff.
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