The total number of employees covered under ESOPs is 461 while the vesting period is four years.
Nashik based Sahyadri Farms, India’s largest integrated value chain owned by Small and marginal farmers has announced Employee Stock Ownership Plans (ESOPs) 2023 worth Rs 45 crore to its employees out of the total ESOPs pool created for an amount of Rs 70 crore.
With a total pool of four per cent of the total outstanding equity (before private equity round of Rs 310 crores in August 2022) of the company worth Rs 70 crore, the ESOPs plan was approved by the Board of Directors in March 2023.
Making the announcement Sahyadri Farms Chairman and Managing Director Vilas Shinde said, “Sahyadri Farms is the first of its kind organization to announce ESOPs in rural India. This scheme will include all our employees who have contributed in value creation for Sahyadri Farms growth. Inclusive growth and value creation for all stakeholders is a core philosophy of Sahyadri Farms since its inception. The organization is creating value for all its stakeholders, mainly the farmer shareholders along with consumers and employees”. Shinde added, Sahyadri Farms, which was started with the mission to ensure that the small-landholding farmers get fair compensation for their produce and labour, now has extended its welfare vision to its employees.
The total number of employees covered under ESOPs is 461 while the vesting period is four years. The board meeting was held in March 2023 to approve the proposed ESOP Plan.
ESOP plan 2023 includes the employees from junior to CXO level employees. The statement issued by Sahyadri Farms added it is the unique plan where everyone will be benefited irrespective of hierarchy. While many other companies focus on key managerial persons and CXO level employees, Sahyadri Farms has included all its employees in the plan. Sahyadri Farms hopes that ESOPs will strengthen the bond between the company and its employees. ESOPs will enable employees to own part of the company and lead to higher productivity and work satisfaction.
