Latest News

Oyo makes all employees shareholders

Bengaluru:In a letter to employees, Oyo in hospitality business, said they will be making every employee a shareholder in the company, providing them with deeply discounted ESOPs.

The letter, which was signed off by Oyos CHRO Dinesh Ramamurthi, earlier this week, stated that the company is giving deeply discounted ESOPs, comparable to restricted stock units , and in turn helping employees become shareholders in the company, at a deeply discounted price, said an employee who didnt want to be identified.

We have offered all our employees deeply discounted ESOPs comparable to restricted stock units and henceforth called RSUs. This means all OYOprenuers have been enabled to buy the stock of the company at a deeply discounted pre-determined price of value subject to the necessary corporate approvals," said an Oyo spokesperson.

The employees also include the OYOpreneurs on leave with limited benefits who will also be granted deeply discounted ESOPs by Oyo," added the Oyo spokesperson.

These RSUs are granted on June 1, 2020, can be vested only after a year from the date of grant meaning thereby that employees need to be active in the company until June 1, 2021 to exercise this option. The price per RSU is currently decided on Rs.10 per option.