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Zypp Electric Grants Rs 11 Crore ESOPs to Over 250 Employees, Including EV Technicians
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News18•30-09-2026, 17:15
Zypp Electric Grants Rs 11 Crore ESOPs to Over 250 Employees, Including EV Technicians
- •Zypp Electric has extended Employee Stock Ownership Plans (ESOPs) worth Rs 11 crore to over 250 employees, including more than 50 EV technicians.
- •The allocation broadens the company’s employee ownership program across various functions and employee bands, representing 22% of Zypp’s workforce.
- •This move aligns with Zypp Electric's growth strategy as it plans for an IPO journey and aims to expand its fleet to 1,00,000 vehicles across 20 cities by FY28.
- •The company reported an 88% year-on-year net revenue growth in Q1 FY24 and an improvement in Ebitda margin from negative 4% to 10% in the same period, rising to 17% over the last 12 months.
- •Zypp Electric previously undertook an ESOP buyback of approximately Rs 1.5 crore for 15 employees in 2023 and claims to be the only company to offer ESOPs to gig delivery partners.
Key Questions Answered
Zypp Electric extended stock Employee Stock Ownership Plans (ESOPs) worth Rs 11 crore to over 250 employees, representing 22 percent of its workforce including more than 50 EV technicians.
The company currently operates over 30,000 EV fleets across eight cities and is targeting a fleet size of 100,000 vehicles across 20 cities by FY28.
Zypp reported that its net revenue grew 88 percent year-on-year in the first quarter of the fiscal year, while its EBITDA margin improved from negative 4 percent to 10 percent and later rose to 17 percent over the previous 12 months.
