KhiladiAdda, a homegrown online gaming platform has announced its Employee Stock Option Plan (ESOP) wherein 10 per cent equity is being set aside for ESOP pool to be managed by a trust specially constituted for the purpose.
The first ESOP grant is being done for eleven employees as an appreciation to their commitment and contribution to the company’s growth. These employees have been with the company for a minimum of 2 years and have proven their capabilities by becoming an indispensable part of the organization.
Commenting on the announcement, Satyam Rastogi, Founder and CEO of KhiladiAdda said, “It is a matter of great pleasure that we are announcing the ESOP for our current and future employees. In the past 3 years, our initial team members have given their best and have exceeded expectations, sometimes working under very challenging circumstances and stiff timelines. We wanted to recognise their commitment and contribution by making them an integral part of our growth story beyond the monthly remuneration.”
The company will issue ESOPs in April 2023 to acknowledge employees’ contributions to the company as an ownership interest. Along with a sense of ownership, ESOPs will help KhiladiAdda in motivating and retaining its talent.
KhiladiAdda will issue ESOPs to retain existing high-commitment employees. ESOP will be given as part of the remuneration. The idea is to make the employees participants and beneficiaries of the growth of the company.
Since the last fiscal, KhiladiAdda has witnessed a 2 times growth and projects to record a revenue of Rs 21 crore in FY23, a 100 per cent increase from Rs 10.50 crore recorded in the previous fiscal.