Deepinder Goyal’s Eternal Just Granted Stock Options Worth ₹171.5 Crore — But What Does It Mean? In a big move that’s turning heads in India’s tech and startup
In a big move that’s turning heads in India’s tech and startup world, Eternal Ltd, the company led by Zomato co-founder Deepinder Goyal, has granted over 64.77 lakh stock options to its employees. At current market prices, the total value of this grant is estimated at a whopping ₹171.5 crore.
This latest stock option grant is part of Eternal’s plan to reward employees, boost retention, and align team goals with long-term business growth. But what exactly happened here? Why does it matter? And what could it mean for the company and its workforce?
Let’s break it down in simple, human terms.
First things first — stock options are not shares, but the right to buy shares at a specific price in the future. In this case, employees can buy Eternal shares at just ₹1 per share, no matter what the market price is at the time they choose to exercise the option.
That’s a pretty sweet deal — especially if the company continues to grow and its share price goes up.
The newly issued stock options were granted under two existing plans:
These plans allow the company to give back to its employees by letting them benefit from the company’s success — quite literally, as shareholders.
Here’s what the stock option grant looks like in simple terms:
Let’s simplify this even further. If an employee gets 1,000 options and holds onto them until the company grows even more, they could potentially turn an investment of ₹1,000 into shares worth over ₹2.6 lakh — depending on the market at that time.
Out of the total 69.19 lakh equity shares covered under the grant:
So essentially, the vast majority of these new rewards are being offered through the newer Zomato plan — showing the company’s forward-looking approach to talent and growth.
There are a few key reasons why these options are getting so much attention:
Employees can buy shares at just ₹1 each — far below the current market price of over ₹260. That’s a built-in profit if and when they decide to cash in.
These options can be exercised within 10 years of vesting or 12 years from listing, whichever is later. That gives employees time to decide when the moment is right to exercise, and lets them ride the wave of the company’s growth.
Once exercised, the shares will be just like any other — with no lock-in restrictions, which means employees are free to sell or hold as they please.
Offering stock options is a smart way for companies — especially startups and tech firms — to:
For Eternal, this grant signals that the company is thinking long term. It’s putting trust (and future wealth) in the hands of its team, hoping they’ll help drive the next big phase of growth.
And with Deepinder Goyal at the helm — someone who helped Zomato go public and reshape the food delivery landscape in India — this could be the start of something just as disruptive.
While the stock options themselves don’t change anything immediately, they set the stage for:
Investors, analysts, and employees alike will be watching closely to see how Eternal grows in the coming years — and how these stock options play into that story.
If you’re watching from the sidelines — or maybe even hoping to work at a company like Eternal — here’s why this is important:
For current Eternal employees, this is a huge perk. For potential hires, it’s a great incentive. And for investors, it shows that the company is doubling down on building a strong, aligned team.
This isn’t just a financial transaction. It’s a sign that Eternal is betting big on its people. At a time when companies are tightening their belts and cutting perks, Eternal is handing out equity worth over ₹170 crore — because it believes in the value of long-term ownership.
For Deepinder Goyal, who’s no stranger to scaling bold ideas, this move fits right into his playbook: build a great team, reward them well, and aim high.
Only time will tell how it plays out — but for now, it’s clear Eternal’s employees just got a powerful reason to stick around and help shape the company’s future.
