Milestone · Commerce & Consumer Brands

Eternal approves employee stock options worth Rs 172 crore

By Startup Enthusiast · 2 April 2026

What they do

Eternal is the holding company behind Zomato and Blinkit

The board approved over 7.4 million ESOPs at Rs 1 per option

Vesting and exercise windows vary by plan, up to 12 years from listing

Eternal approved over 7.4 million employee stock options on April 1, 2026.
The Nomination and Remuneration Committee authorized this via a circular resolution.
Each option converts to one equity share with an exercise price of Rs 1.
The grant covers shares under three different ESOP plans: 2014, 2021, and 2024.
No options have vested or been exercised as of the filing date.
An employee trust currently holds approximately 6% of the total cap table.
The valuation based on recent share prices is around Rs 172 crore.

The large number of options suggests a focus on long-term employee incentives.
The lack of vested options indicates these are new allocations for future retention.

Eternal holds major Indian consumer internet brands like Zomato and Blinkit.
Zomato connects millions of users to restaurants for food discovery and dining.
Blinkit provides fast commerce services for groceries and essential item delivery.
District offers immersive retail experiences and community-driven marketing solutions.
Hyperpure supplies fresh, sustainable products directly to restaurant businesses.
The group aims for 100% EV-based food deliveries by 2030.
Eternal targets net-zero emissions across its value chain by 2033.
Q3 FY26 revenue reached Rs 16,315 crore with a profit of Rs 102 crore.
The market capitalization stands at roughly $23.8 billion.