Reliance Retail Awards INR 351 Cr in ESOPs to 15 Senior Executives Ahead of Anticipated IPO The company issued 4.417 million shares at INR 796.5 per share to top-level employees, showcasing its commitment to retaining and rewarding key leadership.
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Reliance Retail, the retail arm of Reliance Industries Ltd (RIL), has taken a significant step ahead of its anticipated initial public offering (IPO) by granting employee stock option plans (ESOPs) worth INR 351 crore to 15 senior executives during the last financial year.
According to a filing with the Registrar of Companies, the company issued 4.417 million shares at INR 796.5 per share to top-level employees, showcasing its commitment to retaining and rewarding key leadership.
Among the beneficiaries of these ESOPs are prominent figures like V Subramaniam (Director), Damodar Mall (CEO of Grocery Retail), Akhilesh Prasad (President and CEO of Fashion and Lifestyle Business), and Kaushal Nevrekar (President and Chief Business Officer of Electronics Retail). The list also includes Ashwin Khasgiwala (Group Chief Business Operations), Vineeth Nair (CEO of Ajio), Kamadeba Mohanty (COO of Grocery Retail and Jiomart), Prateek Mathur (Head of Strategy and Projects), Vipin Tyagi (COO of Reliance Trends), and Ketan Mody (COO of FMCG Business).
As Reliance Retail prepares for its public listing, this strategic move is expected to generate substantial interest among investors. The Mukesh Ambani-owned company is the largest retailer in India, with 304 million registered customers and over 1.06 billion footfalls across its stores in the financial year 2023-24, as per the company website.
Its vast portfolio spans grocery, consumer electronics, fashion, lifestyle, and pharmaceuticals.
In the grocery segment, Reliance Retail operates multiple brands like Smart Bazaar, 7-Eleven, Fresh Signature, and Freshpik. Its presence in other sectors is equally robust, with Netmeds in pharma, Tira in beauty, Reliance Digital and MyJio Store in electronics, and retail chains like Trends, Reliance Jewels, and Hamleys.
