IIFL Finance to give ESOPs worth Rs 180 crore to 4,000 frontline employees, ETHRWorld

IIFL Finance, a leading retail-focused non-banking finance company, on Monday announced the launch of the Golden ESOP scheme worth Rs 180 crore for its 4,000 frontline employees across 25 states and 5 union territories.

The frontline staff includes call centre executives, gold loan appraisers, branch managers and other zonal sales staff.

IIFL Finance claims this is the largest ESOP scheme for frontline employees across any industry in India and the first in the BFSI sector.

The company will issue shares to 4,000 employees at more than 98 percent discount to its current share price. The shares will be given to the employees at a minimal price of Rs 10 at a time when the share is trading around Rs 600, to benefit from the wealth creation opportunities, according to a statement.

Nirmal Jain, Founder, IIFL Group and Managing Director, IIFL Finance, said, “IIFL’s culture is where ‘owners work and workers own’. Following this principle, this round of allotment has been made. This is a recognition of the owner mindset of the employees at the front level who stayed loyal and performed exceptionally contributing to the growth of the company.”

ESOPs will be given to the employees with at least two years of experience at the company and meeting highest performance ratings. The ESOPs are valued…