Top executives of online food ordering and restaurant discovery firm Zomato are likely to become millionaires after the company’s initial public offering (IPO) later this year.
The Info Edge-backed firm filed its Draft Red Herring Prospectus (DRHP) with the market regulator last month, kicking off one of India’s most anticipated internet IPOs in a tumultuous year.
According to the DRHP, the company will offer equity shares aggregating up to Rs 8,250 crore (nearly $1.1 billion).
Zomato currently counts 74 stakeholders with at least 18 people having stakes of more than 1 percent or more of the paid-up share capital of the company, with founder and chief executive officer Deepinder Goyal holding a 5.5 percent stake.
On the other hand, the total number of options available under the Employees Stock Ownership Plan (ESOP) 2014 is 41,766.
Under the terms of ESOP 2014, for each option, 6,700 equity shares shall be allotted. The value of ESOPs held by the top employees will be derived by dividing the company's last estimated pre-money valuation of $5.4 billion by the total number of diluted shares outstanding as of December 31, 2020. As per the calculation, the per-share price stands at Rs 74.
While the value of the equity held by Goyal stands at Rs 2,734 crore, here is a list of the rest of the top 10 people in the company, their number of outstanding ESOPs and what the cash pile they are sitting on is worth.
1. Mohit Gupta (4,080): Rs 202 crore
He is the co-founder and head of new businesses. He joined Zomato on July 1, 2018. He was paid a gross remuneration of Rs 3.9 crore in FY 2021.
2. Gaurav Gupta (3,975): Rs 197 crore
Gupta is the co-founder and the head of supply at Zomato. He joined the company on June 22, 2015. He was paid a salary of Rs 3.7 crore in FY 2021.
3. Gunjan Patidar (3,067): Rs 152 crore
Patidar is a co-founder and currently the chief technology officer. He joined the company on January 19, 2010. He was paid a gross remuneration of Rs 1.5 crore.
4. Akriti Chopra (2,284): Rs 113 crore
Chopra is currently the head of people development. She joined Zomato on November 9, 2011. During financial year 2021, she was paid a gross remuneration of Rs 1.63 crore.5. Akshant Goyal (1,973): Rs 98 crore
Zomato’s chief financial officer, Goyal joined Zomato on April 1, 2017. He was paid a gross remuneration of Rs 3.3 crore during FY 2021.
6. Surobhi Das (1,457): Rs 72 crore
The head of customer experience, Das joined Zomato on July 5, 2011, and was associated till May 12, 2018. She rejoined the company on August 18, 2020. Her gross remuneration stood at Rs 55 lakh in FY 2021.
7. Rahul Ganjoo (1,305): Rs 64.7 crore
Currently, the head of food delivery, Ganjoo joined Zomato on August 21, 2017. Prior to that, he has worked for over 16 years with multiple companies, including Snapdeal, Twitter and Wipro, in different roles. His salary during FY 2021 stood at Rs 2.9 crore.
8. Daminee Sawhney (1,028): Rs 50 crore
The head of human resources first joined Zomato on February 1, 2011, and was associated till November 11, 2011. She rejoined on December 24, 2012. During financial year 2021, she was paid a gross remuneration of Rs 1.34 crore.
9. Damini Bhalla (117): Rs 5.8 crore
Bhalla is the general counsel at Zomato. She joined the company on March 26, 2021. During the financial year 2021, a gross remuneration of Rs 2.8 lakh was paid to her.
10. Sandhya Sethia (24): Rs 1 crore
Sethia is currently the company secretary and compliance officer of Zomato. She joined the company on January 10, 2019, and was appointed on January 21, 2019. She was paid a gross remuneration of Rs 52 lakh in FY 2021.