India, May 13 -- Foodtech giant Zomato has sought approval from its shareholders for the formulation, adoption and implementation of a new employee stock option plan, Zomato ESOP 2024, to grant 18.26 Cr employee stock options.

In an exchange filing for its Q4 FY24 results, the company said that its board has approved the proposal.

ESOP 2024 will entitle the employee for one fully paid-up equity share of face value of INR 1 each against each ESOP exercised.

"The exercise price shall be face value of the underlying equity shares of the company to be allotted on exercise of vested options, payable by the employee in order to exercise the vested options pursuant to the ESOP 2024," it added.

As per the stock's last closing, the ESOP plan w...