Licious rolls out ‘Everyday Vesting, Anytime Liquidation’ ESOP plan

Currently, over 1,000 Licious employees own ESOPs. [Image: Instagram/licious_foods]

Fresh meat and seafood brand Licious will be rolling out a new plan “Everyday Vesting, Anytime Liquidation”, starting next year. This new plan will enable its employees to have their ESOPs vested daily along with the option of liquidating their ESOPs anytime with no other attached terms and conditions, said the company in a press statement. 

The new unicorn company will set aside a pool of secondary funds every year, to enable the anytime liquidation. However, this opportunity can be availed once in a year period, as mandated by the company law.

Currently, over 1,000 Licious employees own ESOPs and all new eligible employees will be added to the pool, said the company.

Abhay Hanjura & Vivek Gupta, Co-founders, Licious

In the press statement, Vivek Gupta & Abhay Hanjura, Co-Founders, Licious, said, “The pandemic has taught us many lessons, and one among those is to keep your people closest to the organization and reward them for their hard work and contribution. At Licious, we have been recording unprecedented growth and that too in a highly unorganized market. Our employees’ contribution in this growth trajectory has been enormous and incentivizing them well is among our priorities. We are conscious of helping Licians meet their personal and financial goals through wealth creation as we organize the market, and making vesting and buying ESOPs daily, signifies the same.”

Licious’ ESOPs programme benefits employees across functions including processing centre staff, delivery boys, and corporate employees. Earlier this year, the company also extended a buyback option of Rs 30 crore which benefitted 600 employees. The company had earlier said that It serves over 2 million orders every month with over 90 per cent repeat consumption across markets. Currently, Licious has an over 3,500-member team with employees across different disciplines and functions.