Travel distribution platform Travel Boutique Online (TBO) has added new employee stock options to its existing ESOP plan for its employees.
These newly issued ESOPs are worth Rs 44.96 crore. The vesting period is 1 year minimum, with the exercise price being Rs 59.96. TBO’s regulatory filings with the National Stock Exchange show that its Nomination and Remuneration Committee approved a special resolution to add 2,44,500 ESOPs to the existing plan.
The online B2B travel distribution company was founded in 2006, and its travel services for suppliers are spread across car rental services, airlines, railways, hotels, cruises, and more while it manages travel bookings and packages for buyers.
While Travel Boutique Online’s financial statements for Q1 FY25 are not out yet, its revenue surged by 30% from Rs 1,071 crore in FY23 to Rs 1,393 in FY24 along with the profits growing to Rs 201 crore in the same period.
On 15 May 2024, TBO debuted its IPO being valued at Rs 1,426 on the NSE and Rs 1,380 on the BSE, marking 55% and 50% premium respectively. With the public listing, TBO joined the club of already listed travel services platforms. As of Monday, TBO’s market capitalization remains Rs 19,557 crore with present trading price of Rs 1,801 per share. While on Tuesday morning, they opened with 1.9% more at Rs 1,839 per share.
Nykaa, Delhivery, ideaForge, and Zomato are some of major companies that also announced ESOPs this year.
