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IPO bounty for top execs at Firstcry, Ola Electric
Mint Mumbai
|January 09, 2024
Top leaders of Ola Electric and Firstcry stand to make a windfall in their companies' upcoming public listing, an analysis of their draft red herring prospectus (DRHP) by Mint showed.
The top 10 executives of Bhavish Aggarwal-led e-scooter manufacturer Ola Electric are sitting on a potential cash value of 16,792 crore, of which Aggarwal's stake alone is worth a little more than 16,000 crore. The rest of the executives were granted stock options over the years, through the company's employee stock ownership plan (Esop) policy.
Meanwhile, the top 10 leaders of Brainbees, which owns and runs the omnichannel retail brand Firstcry, stand to make at least 2,467 crore from the initial public offering (IPO), according to the Mint analysis. These are conservative estimates based on the valuation of both companies in their last private funding rounds. The shares may be priced higher in IPOs.
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