Mumbai, Apr 7 (PTI) Edtech company Jaro Education on Thursday announced its second grant of ESOP (employee stock option plan) worth Rs 150 million (about Rs 1,140 crore) to reward the company’s existing employees.
According to the scheme, employees of Jaro Education will be able to vest their ESOPs over 3 years, the company said in a statement.
The grant of ESOP will be in the range of Rs 3 lakhs to Rs 3 crore per employee, depending on various performance parameters determined by the company.
“We believe that the ESOPs would further create a sense of ownership and motivate them to achieve substantial growth in the years to come,” Jaro Education Chairman and Managing Director Sanjay Salunkhe said.
In comparison to the last ESOP grant, the number of ESOP holders increased by more than 125 per cent, and the company expects the numbers to continue to rise in years to come.
Recently, the company also announced that they have set aside a marketing budget of around Rs 1,000 million for the acquisition of learners around the world, enhancement of corporate offerings, programme portfolio expansion and brand awareness activities. PTI SM BAL BAL
