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ESOP management platform ZenEquity partners with IPO-bound OYO

The offering will consist of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore.

OYO recently received the go-ahead for listing from the National Stock Exchange and BSE. (File/PTI)
OYO recently received the go-ahead for listing from the National Stock Exchange and BSE. (File/PTI)

Employee stock option management platform ZenEquity on Friday said it will offer its services to the staff and alumni of IPO-bound travel tech firm OYO.

Under a tie-up between the two companies, ZenEquity’s platform will provide an end-to-end solution that would make viewing, managing and exercising Employee Stock Ownership Plan (ESOPs) completely paperless.

“OYO has one of the largest ESOP shareholder bases for a startup based in India, with over 12,000 total ESOP holders including alumni and 80 per cent coverage among current employees.

“This large shareholder base, along with their significant ESOP pool, makes OYO the biggest partnership for ZenEquity,” ZenEquity said in a release.

ZenEquity Founder Sharat Khurana said. “We are thrilled with our association with OYO and committed to empowering OYOpreneurs with real-time insights on their stock options in a secure and reliable manner,” Oravel Stays Ltd, the parent company of OYO, has received in-principle approval from BSE and NSE to list on the respective bourses, according to sources.

OYO has filed preliminary documents for a Rs 8,430 crore initial public offering (IPO). The offering will consist of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore.

As per documents reviewed by PTI, the company recently received the go-ahead for listing from the National Stock Exchange and BSE.

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