Bengaluru, 08th August 2024: Propelld today announced the successful completion of their ESOP (Employee Stock Ownership Plan) buyback, a significant increase in the ESOP pool, and the distribution of additional ESOPs to employees. The buyback, valued at ₹7.05 crore, saw the participation of 18 employees who held vested ESOPs.
The ESOP pool has been expanded by 50%, increasing from 2,898 to 4,334 shares. This expansion is aimed at attracting and retaining top talent, thereby supporting the company’s hiring strategy and rewarding high-performing employees. In addition, Propelld granted additional ESOPs worth ₹6.5 crore to 70 employees, based on their performance and potential, further underscoring the company’s commitment to recognizing and rewarding exceptional effort.
Bibhu Prasad Das, Co-founder and CEO, Propelld, said: “Our recent actions reflect our commitment to the team’s growth and well-being. By expanding our ESOP pool and rewarding high performers, we not only recognize the significant contributions of our employees but also align their success with the company’s long-term goals. As we strive to become India’s largest sustainable education financing company, these initiatives are crucial in fostering a supportive and motivated workforce.”
Amritesh Shukla, HR Head, Propelld, said: “We value performance and rigor as a company. Wealth creation opportunities for our employees’ help them to fulfil the dreams and ambition of their family members too.”
The company has also announced plans for future ESOP-related initiatives, including additional buybacks, demonstrating its ongoing dedication to employee welfare and shared success.
