DRA Homes plans ESOP

City-based real estate player DRA Home has unveiled an employee-retention programme.

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As part of this exercise, it has come up with an Employee Stock Ownership Plan.

The plan will cover every level of its 325-member workforce, said a top official of the company.

Ranjeeth Rathod, Managing Director, said that the company had set aside five per cent of its equity for the ESOP grant that would be vested over a period of three years.

Hinting at the possibility of the company going in for an IPO (initial public offering) eventually, he said that the ESOP shares would be vested among the employees by that time.

For eligibility under ESOP, the employees should have stayed with DRA Home for a year. Rathod claimed that the company had already issued stock ownership to over 100 eligible team members.

 

 

 

 

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