Snapdeal cofounders Kunal Bahl and Rohit Bansal will take home up to ₹5 crore in salaries this year

• Kunal Bahl and Rohit Bansal were appointed as the executive director and their remuneration was increased to ₹5 crore.
• The company spent ₹161 crore on employee benefits in the fiscal year 2021 and ₹103 crore in the first six months of FY2022.
• Each independent director earns ₹100,000 sitting fee per meeting and will earn ₹24 lakh annually till 2024.

Indian ecommerce company Snapdeal, which filed its preliminary papers for an initial public offering (IPO), spent nearly ₹161 crore on employee benefits in the fiscal year 2021.

The company’s expense in this area actually increased in FY22, as per the draft red herring prospectus. Between April to September 2021, the company has spent ₹102 crore in employee benefits. This may be partially due to an increase in salaries of employees of the company, including top executives like Kunal Bahl and Rohit Bansal.