Tea bistro chain Chaayos has extended its representative stock possession plan or ESOP pool. The New Delhi-based organization has passed an uncommon goal to add 62,229 value offers to the pool, administrative filings show.
According to Fintrackr gauges, the recently added shares are worth north of Rs 12.5 crore. The new expansion comes when the organization has begun recuperating from a serious hit to its activities from the Covid-19 pandemic.
One of the biggest supported new companies in this space, Chaayos has backing from any semblance of Tiger Global, Elevation Capital (beforehand SAIF Partners), Hong Kong-based Integrated Capital and WhatsApp’s previous boss business official Neeraj Arora.
The last financing round for Chaayos came in February 2020 when it brought $21.5 million up in Series B2 round drove by San Francisco-based speculation firm Think Investments with interest from adventure obligation reserve InnoVen Capital.
Dispatched by Nitin Saluja and Raghav Verma in 2012, Chaayos had around 80 stores across Delhi-NCR, Mumbai and Bengaluru as of February 2020. Over the course of the following two-three years, the organization had set an objective to build its store check to 300 across the current market.
The pattern of imparting trust in representatives and compensating them with shares under ESOP has been on the ascent in the recent years. Near twelve new businesses including Doubtnut, Byju’s, Oyo, ShareChat, Lendingkart, Unacademy, Rebel Foods, Shuttl, Lenskart, Swiggy and Bounce, have extended their ESOP pool since January 2020. The rundown will go up to 20 with regards to remunerating workers with ESOP during the time frame.
As indicated by Fintrackr’s information, Licious, Paytm, Nykaa, FarEye, Swiggy, CRED, Unacademy, Pine Labs, Zerodha and Oyo, among others have compensated their labor force either with new ESOP allocation or buyback.
Regardless of the pandemic hit, Chaayos meant to cross the Rs 100 crore income mark in FY20. In FY19, the organization’s income from activities was recorded at Rs 66.87. During the past financial, it brought about a total deficit of Rs 28.75 crore.