Rebel Foods, a significant internet restaurant company, said it distributed employee stock ownership plans (ESOPs) to its more than 5,000 employees working in more than 350 corporate offices.
According to a press release, the total value of ESOPs owned by Rebel employees has reportedly reached Rs 550 crore (USD 65 million) with this round of distribution.
According to the company, this move will give employees in the corporate offices and kitchens in India, the United Arab Emirates, and the United Kingdom the potential to become wealthy.
The company recently announced the ESOPs liquidation program for existing holders for the second year in a row. Current and former employees of Rebel Foods have the opportunity to liquidate their vested options under this program this year, which can only be done once a year.
Ankur Sharma, Co-founder of Rebel Foods, said, “Through this ESOP programme, we aim to democratize wealth creation for our team and recognize their passion, customer centricity, and performance. We will continue creating similar opportunities in the future while rewarding our employees for their hard work, contribution, and belief in Rebel’s vision and mission.”
Earlier this year, the food-tech company acquired exclusive franchise rights for Wendy’s global burger chain’s online and offline business.
Rebel Foods, founded in 2011 by Jaydeep Barman and Kallol Banerjee, currently houses more than 45 brands in several international geographies.