KhiladiAdda has announced its stock option plan and has earmarked a 10% of equity towards the ESOP pool to be held in a special purpose vehicle trust constituted to manage the same. The first allocation of the ESOP grant is being done for eleven chosen employees who have shown extraordinary performance and commitment.
KhiladiAdda – India’s largest micro eSports tournament and online gaming platform has recently announced its Employee Stock Option Plan (ESOP) wherein 10% equity is being set aside for the ESOP pool to be managed by a trust specially constituted for the purpose. The first ESOP grant is being done for eleven employees as an appreciation for their commitment and contribution to the company’s growth. These employees have been with the company for a minimum of 2 years and have proven their capabilities by becoming an indispensable part of the organization.
Commenting on the announcement, Mr Satyam Rastogi, Founder & CEO of KhiladiAdda said, “It is a matter of great pleasure that we are announcing the ESOP for our current and future employees. In the past 3 years, our initial team members have given their best and have exceeded expectations, sometimes working under very challenging circumstances and stiff timelines. We wanted to recognise their commitment and contribution by making them an integral part of our growth story beyond the monthly remuneration.”
The of its kind gaming platforms will issue ESOPs in April 2023 to acknowledge employees’ contribution to the company as an ownership interest. Along with a sense of ownership, ESOPs will help KhiladiAdda in motivating and retaining its talent.
“It has been my vision to be an instrument of wealth creation not just for myself or other co-founders but for all the people who have made KhiladiAdda what it is today and it is my firm belief that we will be scaling much higher. It is very satisfying and humbling at the same time,” he added.
KhiladiAdda will issue ESOPs to retain existing high-commitment employees who have demonstrated their utility and have been with the company since the beginning. Additionally, for future hiring of high-value and talented employees, ESOP will be given as part of the remuneration. The idea is to make the employees participants and beneficiaries of the growth of the company.
The gaming platform is moving on an exponential growth trajectory. It has included card games in its existing product portfolio by introducing Rummy and Court Piece. The company is already in talks with a middle eastern country’s e-sports federation to launch a regional esports league.
Since the last fiscal, KhiladiAdda has witnessed a 2X growth and projects to record a revenue of Rs. 21 Cr. in FY23, a 100% increase from Rs. 10.50Cr. recorded in the previous fiscal.