The hyperlocal and omnichannel meat retail brand, Nandu’s recently announced its first round of Employee Stock Option Plan (ESOP) for its employees.
The employees across all levels in the organisation would be rewarded for their contribution to the company’s success and continued growth through challenging times, as part of the ESOP. 5 per cent of the shareholding of the company is the total ESOP pool for this round. Employees from across the organisation at all levels are included in the first tranche. The firm plans to included more employees in the upcoming tranches.
Narendra K Pasuparthy - Chief Farmer, CEO and Founder, Nandu’s said in a public statement, “We already have several company policies in place to ensure a healthy and happy environment for our people. We hope that this will be yet another additional factor to motivate and retain employees as well as attract fresh talent into the company."
The company added further that the ESOP is ‘yet another testimony of company’s growth and focus on profitability despite being bootstrapped’.
Nandu’s has its offline and online presence in Bangalore and Hyderabad markets. The expansion plans of the company includes opening up stores in four more cities by 2024. It is also planning to raise funds to expand its presence in major markets and invest in state-of-the-art technology.