Government job preparation startup Adda247 announced that it has granted stock options worth INR 150 crore to its employees through its Employee Stock Ownership Plan (ESOP).
The annual vesting period for the ESOP pool is four years. According to Adda247, it first implemented an ESOP policy in 2016 and has since liquidated stock options for approximately 10% of its workforce. This year, it also increased the size of the ESOP pool in order to include more employees in the plan. The news comes just a few months after Adda247 received $35 million in a funding round led by WestBridge Capital.