Zomato's Goyal to donate Rs 700cr ESOP proceeds to Zomato Future Foundation

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Zomato's Goyal to donate Rs 700cr ESOP proceeds to Zomato Future Foundation

Food tech goliath Zomato's prime supporter and CEO Deepinder Goyal will give all his worker investment opportunity plan (ESOP) continues worth Rs 700 crore ($90 million) to Zomato Future Foundation (ZFF), as indicated by an inward correspondence sent by Goyal to Zomato's representatives Goyal was conceded a few ESOPS by the financial backers and board on the premise on past execution, just before the organization opened up to the world last year. A portion of these ESOPs vested last month since there is a base 1-year vesting expected according to regulation.

"I'm giving all the returns from these ESOPs (net of charges) towards the Zomato Future Foundation," expressed Goyal in the inward note.

The Zomato Future Foundation will cover the instruction of up to two offspring of all Zomato conveyance accomplices, up to Rs 50,000 for every youngster for each annum on actuals, over a specific help quality benchmark, who have been on Zomato's armada for over five years.

Goyal said this sum would go up to Rs 1,00,000 for each kid for every annum assuming the conveyance accomplice finishes 10 years with Zomato. For ladies conveyance accomplices, the assistance limits of 5/10 years will be lower. They will likewise have unique projects for young lady youngsters and present 'prize cash' on the off chance that a young lady finishes twelfth grade, as well as her graduation....READ MORE