Urban Company offering stock options to Contractual Employees

Urban Company service professionals can now invest in on-demand home and beauty service companies. The company valued more than $ 2 billion as of June 2021, has termed the project as Partner Stock Ownership Plan (PSOP). 

Usually, companies offer stock options to their employees under the Employee Stock Ownership Plan (ESOP). The urban company claims to be the first tech company to offer stock options to their contractual employees.

The company plans to issue shares worth Rs 150 Crore over the next 5-7 years. It has already got the approval to assign the first tranche of Rs 75 crores. The company believes this plan can support 20,000-30,000 professionals related to the platform. 

Abhiraj Singh Bhal, CEO of Urban Company, emphasized that partners must pay a nominal price, called exercise price, in order to purchase these shares.