Mukesh Ambani's gift for leadership team of Isha Ambani-led Reliance Retail, gives Rs 351 crore worth of...

Ahead of its planned initial public offering (IPO), Reliance Retail granted employee stock option plans (ESOPs) worth Rs 351 crore to 15 senior executives during the last financial year, according to a filing with the Registrar of Companies. The retail arm of Reliance Industries Ltd (RIL) issued 4.417 million shares at Rs 796.5 per share to top-level employees. The company indicated that its board will consider listing these shares under the ESOP plan if it proceeds with the IPO. 

Among the executives who received ESOPs are V Subramaniam (director), Damodar Mall (chief executive of grocery retail), Akhilesh Prasad (president and CEO of fashion and lifestyle business), Kaushal Nevrekar (president and chief business officer of electronics retail), Ashwin Khasgiwala (group chief business operations), and Vineeth Nair (CEO of Ajio, the fashion e-commerce platform). Other recipients include Kamadeba Mohanty (COO of grocery retail and Jiomart), Prateek Mathur (head of strategy and projects), Vipin Tyagi (COO of Reliance Trends), and Ketan Mody (COO of FMCG business).

Reliance Retail, the largest retailer in India by store count, profit, and sales across various categories such as food, grocery, consumer electronics, smartphones, apparel, and B2B wholesale, reported a 15% rise in revenue, reaching Rs 258,388 crore in the last fiscal year. Its net profit increased by 26%, totaling Rs 8,875 crore. Reliance Retail Ventures, a subsidiary of RIL and the parent company of Reliance Retail, injected Rs 14,839 crore in debt and an additional Rs 4,330 crore in equity into Reliance Retail in FY24.