Reliance Retail Grants ESOPs Worth ₹351 Crore

Reliance Retail has granted employee stock option plans (ESOPs) valued at ₹351 crore to 15 senior executives, as it prepares for a potential initial public offering (IPO). The retail arm of Reliance Industries allotted 4.417 million shares at a price of ₹796.5 each, significantly higher than the face value of ₹10. Analysts speculate that the IPO may be launched within the next two years, although no specific timeline has been announced. Notable beneficiaries of the ESOPs include executives from various divisions, including grocery, fashion, and e-commerce. This strategic move is seen as a method to retain top talent and reinforce the leadership team amid growing competition in the retail sector. Reliance Retail, recognized as India's largest retailer, reported a 15% increase in revenue last fiscal year, reaching ₹258,388 crore.