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<ul><li>When exercising your ESOP options, you need to pay for the shares at the exercise price. </li><li>There may be an additional tax burden if the <keyword id="173739" type="General" weightage="20" keywordseo="esops" source="Orion">ESOPs</keyword> are provided at a value lower than the fair <keyword id="6463972" type="General" weightage="20" keywordseo="market-value" source="Orion">market value</keyword> at the time of vesting. </li><li>If the company fails to perform well, or lacks successful liquidity events, the potential returns on ESOPs may remain unrealised. </li></ul>When talking about the glitzy world of start-ups, a discussion on employee stock ownership plan (ESOPs), always comes up. In recent news Swiggy announced that it will buy back shares worth $50 million from employees. Also, Paytm granted 1.7 million new ESOPs to employees. A few weeks ago Flipkart announced a $700 million ESOPs payout. However, the world of ESOPs may not all be as rosy as it seems at first glance. ESOPs work in a certain way and there are a lot of factors which need to fall into place before an employee can make a profit out of them. Therefore, one needs to understand that with start-ups coming under a lot of pressure due to an uncertain economic scenario and a funding crunch, have ESOPs lost their charm? “ ESOPs are often offered to outstanding performers to foster a sense of ownership, and nowadays, start-ups use them as a means to attract and retain top talent. However, it is essential to be aware that some companies might also offer ESOPs to compensate for situations when they cannot offer competitive salaries,’ says Anjali Raghuvanshi, Chief People Officer, Randstad India, a HR consulting firm. What this essentially means is that when taking up a job offer, do note if ESOPs are a part of the salary package as this may come at the cost of foregoing some salary. It is important to understand two major risks associated with ESOPs. Let us take a look. <cmsannotation type="cmsannotation" annotationid="You would need to fork out money upfront" comment="subhead" text="You would need to fork out money upfront">You would need to fork out money upfront</cmsannotation> Here is where owning ESOPs can get tricky. “There are two up-front costs you have to bear when you are exercising your ESOP options. The first cost is the amount you pay the company for those ESOPs,” says BM Singh, ESOP Expert &amp; Managing Partner, BMSA, a consulting firm. Suppose an employee is granted 1,000 ESOP options by a company. The exercise price or strike price of each option is ₹100. This means that the employee can purchase the company's shares at ₹100 per share at a future date, regardless of the market price at that time. Now, let's assume that the market price of the company's shares increases to ₹150 when the employee decides to exercise their ESOP options. To exercise the options, the employee needs to pay the exercise price, which is ₹100 per share. The cost to the employee to exercise their ESOP options would be ₹100,000. <cmsannotation type="cmsannotation" annotationid="Additionally, there may be a tax implication" comment="subhead" text="Additionally, there may be a tax implication">Additionally, there may be a tax implication</cmsannotation> The next is the tax implication that arises here. If the ESOPs are granted at a value lower than the fair market value during vesting, there could be an extra tax burden, resulting in potential tax liabilities before fully realising the value of the ESOPs. “ESOPs are taxable in the hands of the employees as perquisite u/s 17(2) of the IT Act. The taxable amount of such perquisite would be the fair market value (FMV) of the shares (computed in accordance with Rule 3(8) of the IT Act) on the date of exercising such option less any amount paid by the employee for such ESOPs,” says Suresh Surana, Founder, RSM India, an audit, tax and consulting firm. In the above example, the employee would need to pay tax on the taxable amount of ₹50,000 at the applicable tax rate. The exact tax amount will depend on the individual's income tax slab rate. <cmsannotation type="cmsannotation" annotationid="A bigger concern" comment="subhead" text="A bigger concern">A bigger concern</cmsannotation> Poor company performance and uncertainty of liquidity events may render ESOPs worthless. “If the company fails to perform well or lacks successful liquidity events, the potential returns on ESOPs may remain unrealised, potentially impacting the value of the effort and time invested over the years, “ says Raghuvanshi. The value of ESOPs is closely tied to the company's performance and growth potential. If the company's value decreases, it can negatively impact the value of your stock options, potentially making it challenging to sell your shares at a profit. Hence, it is important for an employee to evaluate the future prospects and growth of a company before making a decision to exercise the option. When an employee exercises the options, he should have trust in the company's future growth and performance. “The employee should also be aware about the exit possibilities in case of unlisted shares i.e. buyback track record, funding rounds etc,” says Akhil Chandna, Partner, Tax, Grant Thornton Bharat, a professional services firm. When exercising ESOPs, it is thus essential to conduct a thorough assessment of the company's current performance and financial well-being. This evaluation helps the employee make informed decisions about exercising their options. “Any significant changes since joining could impact the decision,” says Raghuvanshi. <cmsannotation type="cmsannotation" annotationid="Risk of ESOPs are higher in an early stage start-up" comment="subhead" text="Risk of ESOPs are higher in an early stage start-up">Risk of ESOPs are higher in an early stage start-up</cmsannotation> If a start-up is bootstrapped or in the idea phase, the risks are higher. In that case ESOPs are merely paper money. As the different rounds happen, the value of the ESOPs and the probability of liquidity increases. “You should see at which stage of the start-up you are entering. At each phase the value of ESOPs is different. So if you are joining a company just on the basis of ESOPs and not getting a reasonable salary and the company is in its early stages, then you should also focus on the cash component,” says Singh. If it has reached the Series A or Series B funding stage, then you can consider the value of ESOPs when joining and can consider it an important part of your salary package.

Explained: What accepting ESOPs, especially if joining a start-up, might entail

<ul><li>Tiger Global, Think Investments and Malabar Investments participated in the round.</li><li>The company will be exploring mergers and acquisitions to expand its business.</li><li>A part of the funding will also be used to buyback shares from the company's employees.</li></ul>Messaging platform <keyword id="755674" type="COMPANY" weightage="20" keywordseo="GupShup">Gupshup</keyword>, which became a unicorn earlier in April 2021, has raised an additional funding of $240 million in a follow-on funding round. Several marquee investors like Fidelity Management and Research Company LLC, Tiger Global, Think Investments, Malabar Investments, Harbor Spring Capital participated in the round, along with certain accounts managed by Neuberger Berman Investment Advisers LLC, White Oak, and others. A unicorn is a startup valued at or more than $1 billion. The 17-year-old company will use this funding to invest in its product and also enable buyback shares from existing and former employees. The company will also be providing partial exits to few of its initial investors. Gupshup is also exploring merger and acquisition (M&amp;A) opportunities to expand its business, it announced in the press release. “We have followed Gupshup’s progress for a long while and believe that they are the most evolved customer communications platform In India and increasingly in other emerging markets, with a leadership position in the most attractive and fastest growing sub-segments of the market,” said Sumeet Nagar, managing director of Malabar Investments. Gupshup was founded by Beerud Sheth in 2004. It is a conversational messaging platform that enables businesses to manage internal communications. The company provides a platform for developers to build bots for SMS, Twitter, Slack, WeChat, Teamchat and others. The company’s clientele is spread across banking, ecommerce, hospitality, consumer goods and other industries. A few big names in its client list are Zomato, Flipkart, HDFC Bank, and others. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories </a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms">Rolex Rings IPO opens today with a price band of ₹880-900</a>

Business communication platform Gupshup raises $240 million, to buyback ESOPs

<ul><li><keyword id="6357886" type="General" weightage="100" keywordseo="phonepe" source="Orion">PhonePe</keyword> said that all its subsidiaries have migrated from Singapore to India. </li><li>The payment service company has also migrated ESOPs from <keyword id="15153736" type="General" weightage="50" keywordseo="phonepe-singapore" source="Orion">PhonePe Singapore</keyword> to PhonePe India. </li><li>IndusOS, owned by PhonePe, has also shifted operations from Singapore to PhonePe India. </li><li>PhonePe currently has over 350 million registered users. </li></ul>Walmart-backed Indian payments service company PhonePe, today announced that it has completed three steps involved in moving its domicile to India. Over the past year, PhonePe has moved all businesses and subsidiaries of PhonePe Singapore to PhonePe Pvt Ltd - India directly. This includes its insurance broking services and wealth broking businesses, the company claimed. “Following these actions, all <keyword id="15154047" type="General" weightage="50" keywordseo="phonepe-group" source="Orion">PhonePe Group</keyword> businesses and entities are now wholly owned by and consolidated under PhonePe Pvt Ltd - India,” PhonePe revealed in a statement. PhonePe’s board recently approved the creation of a new employee stock ownership plan (ESOP) plan and the migration of over 3,000 PhonePe Group employees’ existing ESOPs by issuing new ESOPs under PhonePe India’s new plan. Under the newly liberalized automatic overseas direct investment ODI rules, PhonePe has also moved the ownership of recently acquired IndusOS Appstore (<keyword id="15154048" type="General" weightage="50" keywordseo="oslabs-pte-ltd" source="Orion">OSLabs Pte Ltd</keyword>) from Singapore to India. <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>, in effect from August 22, 2022, announced changes in the ODI rules for fintech firms. The ODI rules come under <keyword id="88944" type="General" weightage="50" keywordseo="foreign-exchange-management-act" source="Orion">Foreign Exchange Management Act</keyword>. Last year, PhonePe acquired Samsung-backed IndusOS, an Indian smartphone application and content discovery platform. PhonePe, founded in December 2015, is one of India’s largest payments apps, which crossed 350 million registered users in January this year. It forayed into financial services in 2017. <keyword id="6354742" type="General" weightage="50" keywordseo="flipkart" source="Orion">Flipkart</keyword>, one of India’s largest ecommerce platforms and the largest shareholder in PhonePe, continues to be headquartered in Singapore. One in four Indians use services of fintech <keyword id="15154046" type="General" weightage="50" keywordseo="platform-phonepe" source="Orion">Platform PhonePe</keyword> with 150 monthly active users making it one of India’s widely used Unified <keyword id="4303474" type="General" weightage="50" keywordseo="payment-interface" source="Orion">Payment Interface</keyword> (UPI) apps. The Bengaluru-based fintech startup declared in April this year that it crossed 100 million transactions in a <a href="https://economictimes.indiatimes.com/tech/technology/phonepe-says-it-clocked-100-million-transactions-in-a-day-for-the-first-time/articleshow/90823278.cms?from=mdr">day</a>. To further strengthen its enterprise, PhonePe acquired <keyword id="9655220" type="General" weightage="50" keywordseo="gigindia" source="Orion">GigIndia</keyword> in March 2022, a marketplace for gig workers for an undisclosed amount. GigIndia has 1.5 million entrepreneurs onboard its platform. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-set-to-open-on-oct-4-commands-grey-market-premium-of-30/share/articleshow/94620046.cms">Electronics Mart India IPO set to open on Oct 4; commands grey market premium of ₹30/share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/mangalyaan-all-you-need-to-know-about-indias-first-historic-mission-to-mars/slidelist/94617244.cms">Mangalyaan: All you need to know about India’s first historic mission to Mars</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/millions-of-indian-smartphone-users-might-have-to-wait-till-2024-for-5g-say-experts/articleshow/94614275.cms">Millions of Indian smartphone users might have to wait till 2024 for 5G say experts</a>

PhonePe moves domicile from Singapore to India

<keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> is dishing out employee stock options (ESOPs) to top-level staff of <keyword id="6388367" type="COMPANY" weightage="20" keywordseo="Jabong">Jabong</keyword>. At least two dozen employees of Jabong have been offered this option. Jabong’s employees will get the options based on an April valuation which was at $10.2 billion for Flipkart. If Flipkart raises capital in the next funding round and is valued at $11.6 billion, the valuations are expected to be revised. "They have given the stock with Flipkart option to 25-30 people at Jabong and as the next round of funding happens, the valuations will be revisited. Right now, they have given at $10 billion valuation," a person familiar with the development told ET. "Employees have been the strongest pillars of support over the past decade for the entire Flipkart Group, and we believe in rewarding them in the truest possible sense," a Flipkart spokesperson told ET in an emailed response. Through the ESOPs, companies give employees the right to purchase the company stock at a specified price, generally lower than the price offered to investors, for a limited time period.

Flipkart is rolling out stock options for senior employees of Jabong

It’s been just few days that <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> saw a <a href="http://www.businessinsider.in/flipkart-raises-1-4-billion-from-tencent-ebay-microsoft-and-acquires-ebay-india/articleshow/58109109.cms">capital raise</a> at a valuation of $11.6 billion, and now the online retailer has sent out an email to its employees, which says they will be issued additional shares to make up for the <a href="http://www.businessinsider.in/flipkart-raises-its-biggest-round-at-a-lesser-valuation-and-acquires-ebay-but-is-it-enough-to-steer-off-amazon/articleshow/58128005.cms">lower valuation</a>. 
 
In the last funding round in 2015, Flipkart was valued at $15.2 billion. 
 
As Flipkart was funded at a lower valuation, it has seen a drop in the price of its shares that were issued to the employees with Employee Stock Options (ESOPs) when the company was valued higher. This includes not only Flipkart employees but also of its group companies, <a href="http://www.businessinsider.in/retail/e-commerce/this-is-what-myntra-jabong-are-doing-to-consolidate-their-position-in-the-ecommerce-market/articleshow/57683255.cms">Myntra and Jabong </a>along with payments venture <a href="http://www.businessinsider.in/markets/economy/phonepe-stops-all-upi-based-payments-on-flipkart-website-isindia-not-ready-with-upi-based-payment-service-yet/articleshow/56713887.cms">PhonePe</a>. About a third of Flipkart's 8,000 employees have ESOPs. 
 
Also read: <a href="http://www.businessinsider.in/and-now-artificial-intelligence-will-make-your-flipkart-experience-enriching/articleshow/58061636.cms">And now, artificial intelligence will make your Flipkart experience enriching</a> 
 
"As an organisation, Flipkart takes immense pride in being the employer of choice for thousands of professionals-a vaulted status that only comes with a deep, company-wide sense of transparency and fairness. If Flipkart does well, so should you," Group CEO <a href="http://www.businessinsider.in/retail/e-commerce/is-flipkarts-musical-chair-with-its-ceo-justified/articleshow/56473428.cms">Binny Bansal </a>said in the email. 
 
(Image source Huffington Post)

Flipkart employees to get additional shares to compensate for lower valuation

In what can be considered a first by an Indian <keyword id="436047" type="UNKNOWN" weightage="80" keywordseo="Ecommerce">ecommerce</keyword> company, <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> has sold a marginal stake worth Rs 180-240 crore in its employee trust fund to high net worth individuals in the past few weeks. 
 
According to people aware of the transaction, the move was aimed at talent retention by the eight-year-old firm. 
 
Such a move gives employees holding stock options an avenue to monetise them, something they normally wouldn't be able to do in absence of a listing. 
 
"At Flipkart, we believe the reason for our remarkable growth has been our people who have demonstrated immense ownership and have consistently gone way beyond the call of duty," a company spokesperson said in an email to ET. 
 
 
Flipkart, India's largest ecommerce company, has raised more than $3.4 billion from global investors such as New York-based Tiger Global and Steadview Capital and was valued at $15 billion in the last round of funding. 
 
 Employee stock options, or <keyword id="173739" type="PERSON" weightage="80" keywordseo="Esops">esops</keyword>, can range from 30 per cent to as much as 70 per cent of compensation. Listed and unlisted companies in India have employee trusts that are used as a way of rewarding staff. 
 
Image credit: Indiatimes

Flipkart
employees in for richer times as co sells ESOP trust

Working with start up is fun. You get to experiment, explore and work to the full potential without anybody interfering. However if you are working with renowned start ups , like <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, which has grown immensely in last few years, you would definitely be earning fat pay checks. 
 
According to Tofler, a Buisness Research Platform, at least 6 employees earlier working with Flipkart were paid more than Rs 10 crore annually. 
Before you start doubting your capabilities and start searching for Flipkart’s HR on Linkedin, there’s more to this story. 
 
According to Flipkart, these people who earned more than Rs 10 crore a year has employee stock ownership plan (ESOP) included to these pay checks. 
 
This slideshow below shows the crorepati employees at Flipkart. Click the link below to see who they are. Some of them are still acting as advisor to the company.

Here's the salary of top officials at Flipkart

If you are working in a startup, don’t keep high expectations from appraisals this year. Startups that were on a hiring spree and giving out at least 30 per cent increment last year are now either giving minimal hike or even no hike. 
 
Squeezed between low funding and pressure to dole out profits, new-age firms are trimming appraisals and going low on hiring in a bid to monetize their businesses. 
 
TOI reported that Zomato told its employees that it may freeze appraisals for 2016. Likewise, InMobi has also delayed the cycle. 
 
"A few months ago, Zomato asked its employees to take a pay cut in lieu of Esops. Post that, they informed employees about no increments for this year. All this is to cut wage costs at a time when their losses are shooting up," a person privy to the developments at the company told TOI. 
 
Meanwhile, Zomato said in an emailed response told TOI, "We were prudent in how we did increments last quarter. We spoke to our teams and were very transparent with them about this decision. Our people are here for the long term, and understand the reasoning behind it. To add to this, we have not seen any attrition on account of this." 
 <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> are also not upbeat about the appraisals this time. 
 
(Image: Thinkstock)

Pressed under funding crunch, startups are giving peanuts in appraisals this year

About two dozen top executives working with the fashion portal <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword> will become millionaires as the country's largest online retailer <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> completes a long-awaited acquisition of the company. 
 
Among these executives are chief operating officer Ganesh Subramanian, chief technology and product officer Shamik Sharma, human resources head Pooja Gupta and chief marketing officer Vikas Ahuja. Their shares are approximately worth between $1 million and $4 million or up to Rs 25 crore. 
 
But it is not just the top executives who will benefit. Almost all the employees in central functions such as technology and marketing, apart from the call centre and delivery staff, have received stock options. 
 This is contrary to what has been the norm in the country’s start-up sector, where founders make the most out of lucrative deals. "Employees are the least represented at the deal table," said Alok Goel, former chief operating officer of online ticketing firm <keyword id="6359128" type="COMPANY" weightage="60" keywordseo="Redbus">redBus</keyword>, which was acquired by South Africa's <keyword id="6356837" type="COMPANY" weightage="60" keywordseo="Naspers">Naspers</keyword> in 2013. 
 
Goel, who is now the chief executive of Freecharge, an online recharge site, said that the start-ups set aside a stock pool, but do not distribute it. "At Freecharge, we have set aside a healthy stock pool and have already distributed a large chunk of it," he added. 
 
"Fewer employees have stock in the company," said a recruitment consultant who has worked with Myntra. Naukri and MakeMyTrip are regarded as start-ups that shared their wealth with employees in the form of stock options. 
 
The best-known Indian company for sharing its wealth with the employees is Infosys. Since 1994, the company has had three ESOP (Employee Stock Ownership Plan) plans that covered 32,000 employees. 
 
"Myntra's is a good model for other start-ups and entrepreneurs," said Anshuman Das, managing partner at Longhouse Consulting, a recruitment firm that works with start-ups.

Top Myntra Execs To Become Millionaires After
Flipkart Deal

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s founder and CEO <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> was given ESOPs worth ₹387 crore in the second half of FY2022.</li><li>However, he did not create any wealth out of it as he donated ESOPs worth ₹700 crore in May.</li><li>Goyal had also forgone his salary for three years and did not earn anything in FY2022.</li></ul>Zomato’s founder and CEO Deepinder Goyal received shares worth ₹387 crore under the employee stock option plan (ESOP) in the second half of fiscal year 2022. However, he does not personally gain from it. Goyal <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms#:~:text=Zomato%20founder%20and%20chief%20executive,delivery%20partners%2C%20among%20other%20things">donated all his ESOP proceeds worth ₹700 crore</a> to Zomato Future Foundation last month, which will be used towards offering free education to the children of delivery partners and other initiatives. This included the ESOPs allocated to him in the second half of 2022. <cmsannotation type="cmsannotation" annotationid="Not taking any salary till FY2024" comment="subhead" text="Not taking any salary till FY2024">Not taking any salary till FY2024</cmsannotation> Additionally, he also waived off his salary for the entire year that ended in March. He had also taken a pay cut owing to the COVID-19 pandemic. Goyal earned a basic salary of <a href="https://www.businessinsider.in/business/startups/news/checkout-zomato-top-executives-salaries-including-co-founder-and-ceo-deepinder-goyal/slidelist/82289352.cms#slideid=82289373">₹1.96 crore in FY2021</a>, compared to ₹3.5 crore earned in the previous year. As Zomato was preparing for its public debut last year, Goyal announced that he will not be taking any money home for the next three years, as salary. “Deepinder Goyal has voluntarily waived his remuneration for a period of 36 months starting from April 1, 2021 and shall continue to discharge his roles and duties as Managing Director and Chief Executive Officer during this period,” the company had said in its IPO papers. <cmsannotation type="cmsannotation" annotationid="How much did others earn?" comment="subhead" text="How much did others earn?">How much did others earn?</cmsannotation> Zomato — in its regulatory filings on Bombay Stock Exchange (BSE) — revealed that it has incurred an expense of ₹778 crore in salaries and other benefits like ESOPs between October 2021 and March 2022. Here is how much Zomato’s top management earned in the latter half of FY2022: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Designation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ESOP </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepinder Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Founder and CEO of Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹386 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akshant Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CFO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹50 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sandhya Sethia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company Secretary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kaushik Dutta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Namita Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aparna Popat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gunjan Tilak </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sutapa Banerjee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr></tbody><tbody></tbody></table>Source: Zomato’s filing on related party transactions Notably, CFO Akshant Goyal had also forgone his salary for the months of January, February and March. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/home-loan-rates-enter-red-zone-will-dent-affordable-and-mid-segment-sales-the-most/articleshow/92079341.cms" style=""></a><a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms" style="">YouTube channel to a billion dollar company — India’s first profitable edtech unicorn is here</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-amazon-flipkart-reliance-and-tata-neu-indias-133-billion-ecommerce-market-may-be-too-little-for-a-fifth-player/articleshow/92062540.cms">After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player</a> <a href="https://www.businessinsider.in/business/ecommerce/news/india-will-have-more-ecommerce-users-by-2025-than-us-population/articleshow/92062424.cms">India will have more ecommerce users by 2025 than US’ population</a>

Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021

The pandemic hit us in early 2020 and when the world had come to a standstill, Asia’s richest man <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> and his team were busy closing some of the biggest deals India had ever seen. Conventional wisdom would tell us that selling stake during a crisis is a bad idea because the buyers would be wary and not willing to pay a high price. But <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> raised over $22 billion from strategic investors like Facebook (now, called Meta) and Google, during the pandemic to bring down the debt to zero. But now that everyone is crawling back to business, <keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword> has gone against the tide and decided to borrow $5 billion from the market again. What’s he really up to? <div type="image" title="Mukesh Ambani is borrowing $5 billion from the market again" msid="88717801" hostid="261"></div> There are two reasons why he is in the market <keyword id="6370254" type="General" weightage="20" keywordseo="borrowing" source="Orion">borrowing</keyword> money again. One, to bring down the annual interest payments with cheaper loans. An <a href="https://economictimes.indiatimes.com/markets/stocks/news/ril-set-to-raise-1-5-bn-in-overseas-loans-to-refinance-existing-facilities/articleshow/79377238.cms">initial estimate</a> said that the interest on the new loans will be 57% less than the earlier ones. The idea is to use the money from the new loans to repay the old ones, which carry a higher interest rate. The second reason for the new loans is to fund a series of ambitious projects in what he calls ‘new energy’. Reliance Industries has already revealed <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-acquires-uk-battery-tech-company-faradion/articleshow/88606195.cms">a ₹75,000 crore investment plan.</a> <div type="image" title="RIL has revealed a ₹75,000 crore investment plan" msid="88717879" hostid="261"></div> Ambani knows that the focus of the next decade ⁠— at the level of governments, corporations as well as consumers ⁠— will be to reduce carbon emissions and to invest in <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword>, electric vehicles, and hydrogen fuel. This kind of societal shift can be a huge money making opportunity and the ace businessman is prepping for it. <div type="image" title="India&amp;#39;s renewable energy capacity" msid="88717943" hostid="261"></div> Basically, Ambani, who sold oil and petrochemicals for decades, has decided to go green. But, unlike the Incredible Hulk, anger isn’t the trigger for this giant of India Inc. It’s money and opportunity. <div type="image" title="Mukesh Ambani has decided to go green" msid="88717989" hostid="261"></div> And he’s not going to build electric vehicles (EVs) or start an electricity distribution company. Instead, he will make the panels, batteries and fuel cells that others will buy, assemble and sell thereafter. A lot like what <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-says-he-will-make-batteries-ahead-of-a-boom-in-electric-vehicles/articleshow/81166590.cms">Elon Musk’s Tesla plans to do</a>. Instead of releasing the hydrogen produced from the factories into the air, a fuel cell can combine the hydrogen with the oxygen in the air to generate electricity. And because ‘going green’ is a global fad ⁠— one that’s just gonna get more popular for a long time before it becomes passe ⁠— people are willing to lend money at a cheaper price. <div type="image" title="Reliance has extensive green energy plans" msid="88718074" hostid="261"></div> We all wanna make money, from our investments and from having jobs that pay good salaries. But most people figure out the best money making ideas a little too late. In the early 2000s, if you had figured out that e-commerce was gonna be a thing in the next 10 years, even if you couldn’t invest in Flipkart then, you could have just taken a job there with some ESOPs, and <a href="https://www.businessinsider.in/business/startups/news/nykaa-zomato-paytm-oyo-and-policybazaar-made-their-employees-millionaires/slidelist/88552831.cms">you would probably be a millionaire now</a>. If someone told you before the pandemic that a communication technology firm like Zoom is gonna be an integral part of everyone’s lives, imagine the money you could have made with just a few shares. Unlike most of us, the rich people are always on to these trends early, very early. So, let’s see what Ambani is planning and what we can learn from it. Here’s a short video. <div type="image" title="Here’s why Mukesh Ambani is borrowing money again" msid="88718099" hostid="261"></div>

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