Eternal Ltd., the parent company of Zomato and Blinkit, has given 6.413 million stock options to its employees through its employee stock option plans (ESOPs). The company’s Nomination and Remuneration Committee approved this allocation on October 1.
The stock options were issued under three plans: Foodie Bay ESOP 2014, Zomato ESOP 2021, and Zomato ESOP 2024. The biggest allocation was from ESOP 2021 with 4.12 million options, followed by 2.29 million options under ESOP 2024. Only 72 options were allotted under ESOP 2014.
Each stock option has an exercise price of Rs 1 per share.
At Eternal’s closing price of Rs 329.45 on October 1, the total stock options are worth INR 211.28 crore ($23.8 million). Each option can be converted into one fully paid share with a face value of Rs 1.
Options under ESOP 2014 and 2021 can be used within 10 years of vesting or 12 years from listing, whichever is later. ESOP 2024 options can be used within 10 years of vesting.
With this allocation, Eternal has issued around 55.9 million stock options across its ESOP plans in 2025. As of FY25, the company had 6,903 full-time employees.
Eternal’s shares have risen 19% since the start of 2025, even though the company’s profits have dropped sharply.
In the April-June quarter, the company’s net profit fell over 90% to Rs 25 crore from Rs 253 crore a year earlier, while its operating revenue grew more than 70% to Rs 7,167 crore from Rs 4,206 crore.
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