PB Fintech Announces Fresh ESOP Scheme Worth Almost Rs 2,000 Cr

PB Fintech, the parent of Policybazaar and Paisabazaar, has announced a massive expansion of its employee stock option plan, announcing a fresh scheme worth close to Rs 1,931 crore, about $233 million.

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The board of PB Fintech has approved a resolution to issue 1,14,00,000 employee stock options to its employees, directors, and subsidiaries.

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This was decided subject to shareholder approval, as per the regulatory filing made by the company to the National Stock Exchange.

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According to this plan, the ESOPs will vest over four years from the date of grant in accordance with the long-term growth strategy of the company.

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The announcement to extend ESOP by PB Fintech comes right after its stupendous financial results.

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For the first quarter of the current fiscal year, it posted Rs 1,010 crore in revenues, steadying to a profit of Rs 60 crore.

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