Travel tech major RateGain has expanded its employee stock ownership plan (ESOP) pool by allocating shares worth Rs 4.5 crore to boost employee morale. In a regulatory filing, the Noida-based company announced allotting nearly 60,000 equity shares under its ESOP 2015 and Stock Appreciation Rights Scheme 2022.
As per the opening stock price on the day of allotment, the newly distributed ESOPs are valued at approximately Rs 4.49 crore. The increased paid-up capital will help RateGain attract and retain top talent in a highly competitive industry.
Founded in 2004, RateGain is a leading SaaS supplier helping over 3,200 clients in the travel and hospitality sectors increase business. The company saw stellar financials in the recent fiscal, with net profit more than doubling to Rs 146.39 crore compared to Rs 68.40 crore in the previous year. Revenue also rose impressively by 36% to Rs 255.81 crore against Rs 187.72 crore in FY23.
By expanding the ESOP pool, RateGain aims to boost employee satisfaction and loyalty. Several new-age businesses are utilizing stock options to rebuild their employer value following layoffs in the technology sector. The move underscores RateGain’s commitment to long-term growth and employee welfare even during uncertain economic times.
