INNOVITI TECHNOLOGIES EXPANDS ESOP POOL to Rs. 160 Crores, BOOSTS OWNERSHIP WITH ENHANCED ESOP POLICY
BENGALURU, India, Sept. 8, 2023 /PRNewswire/ -- Innoviti Technologies, India's largest Payments-based Retail SaaS platform, has enhanced its ESOP pool by Rs. 55 Crores to a total of Rs. 160 Crores. Rs. 23 Crores worth of new grants has been given to over 40% of the staff, increasing the total granted pool to Rs. 90 Crores.
In addition, several key new features have been added to provide employees with even greater opportunities and rewards for their contributions to the company's success. The policy has transparently defined the criteria under which an employee will be awarded with ESOPs, as well as the quantum of ESOPs. The company has also extended the exercise period of shares for employees separating after 4 years or more, to ensure that even while employees are exploring their career advancements elsewhere, their contributions to the company carry forth with them. This extension provides employees with ample time to carefully plan their finances during transitional phases, taking into account both cash and tax implications. The decision to increase the ESOP pool and grant ESOPs is a testament to the confidence that Innoviti's Investors and Board have in the company's future.
These enhancements to Innoviti's ESOP policy are perfectly aligned with the company's vision of fostering a sense of ownership and belonging among its team members. The company encourages each employee to seize this opportunity and become a part of Innoviti's future and contribute to shaping the success story of the organization.
Sathish Chinnaiah, Vice President - Human Resources, Innoviti, said, "Innoviti as a frontrunner and India's largest provider of integrated payments technology to leading enterprise brands. Innoviti has increased the ESOP pool by another Rs. 55 Crores, taking the total pool to Rs. 160 Cr. This move reflects our unwavering belief in the incredible talent and potential of our exceptional workforce and almost 40% of our employee population have been allocated an additional ESOPs grant. We have extended our heartfelt appreciation to our employees for their hard work and dedication. These enhancements to our ESOP policy align perfectly with our employee mission of helping every employee lead a better standard of life by giving them an opportunity to learn more and earn more".
About Innoviti Technologies Pvt. Ltd., Bangalore, India.
Innoviti Technologies (formerly Innoviti Payment Solutions) is India's largest Payments-based Retail SaaS platform for enterprise merchants and their channel partners, with more than 70% market share of all purchases being paid for digitally from their Exclusive Brand Outlets. Innoviti's vision is to help people make better purchase decisions by providing better purchase options. The company processes over 9B$ of annual purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has nine patents, including one US patent and is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award, Prestigious Brand 2022 and is also a great Place to Work certified and strives to create a workplace where people can learn more to earn more.
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