ixigo Allots Over 4.6 Lakh Equity Shares Under Employee Stock Option Schemes
Online travel aggregator ixigo has allotted more than 4.6 Lakh equity shares under its multiple existing employee stock option schemes (ESOS).
In a regulatory filing, ixigo said that the company’s board had approved an allotment of 4,65,216 shares with a face value of INR 1 each to eligible employees under ESOS 2013, ESOS 2016, ESOS 2020, and ESOS 2021.
After the allotment of these shares, the company’s issued and paid-up share capital increased to INR 3,88,731,094 from INR 3,88,265,878.
Besides, the company has also expanded the pool size under ESOS 2012, ESOS 2013, and ESOS 2016 by granting 6,90,796 stock options to the eligible employees under the schemes, ixigo said in a separate regulatory filing yesterday (December 27).
“The stock options have been granted at an exercise price of INR 93 per option,” the filing added. Further, the options granted will vest over four years in equal annual installments of 25% each.
The development came after Ixigo
expanded its ESOP last month with the grant of 17.57 Lakh stock options under ESOP 2024.
On the financial front, the company’s consolidated net profit declined 51% to INR 13.08 Cr during the September quarter (Q2) of the financial year 2024-2025 (FY25) from INR 26.70 Cr in the year-ago quarter. Profit declined 12% on a sequential basis from INR 14.85 Cr.
The primary reason behind the decline in profit was a rise in total tax expenses, which stood at INR 5.26 Cr in Q2 FY25.
Notably, ixigo in October announced the acquisition of a 51% stake in train food delivery startup Zoop Web Services for INR 12.54 Cr ($1.4 Mn) through a combination of primary and secondary share purchases.
Founded by Aloke Bajpai and Rajnish Kumar in 2007, ixigo started as a travel search website to help users compare flight deals. In FY20, it became an OTA and started selling various travel services, such as flights, trains, bus tickets, hotel bookings, and holiday packages. The company went public in June this year.
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