Press Release

Porter offers liquidation of ESOP worth INR 50 Crores to its employees for the second consecutive year

Porter, India’s leading tech-based, on-demand, logistics company has announced to offer liquidation of ESOPs (Employee Stock Ownership Plan) worth INR 50 crores for its current and former employees. This liquidation aims to encourage Porter’s talent for their valuable contributions by providing them with wealth creation opportunity.

As a part of this program, all the employees with eligible options are qualified to avail this plan/ program. The employees (current and former) will be able to sell the eligible options immediately at a 50% higher value from the last liquidation valuation up to a total value of INR 50 crores.

Pankaj Shroff, CFO, Porter said, “This round of ESOP is yet another testimony of Porter’s gratitude and appreciation for the significant endeavours by our current and former employees in building the company. We aim to incentivize our employees keeping in mind their growth and well-being including financial growth.”

“We announced our first-ever ESOPs liquidation worth INR 40 Crore ($5 Million) in 2021 benefiting many of our stakeholders. Our employees are one of the main drivers of success at Porter and their growth is of utmost priority to us. By enabling an ESOP liquidation for the second consecutive year, we wish to provide a unique opportunity for our current and ex-employees to decide on their investments and cash flows at a much faster rate. This ESOPs scheme is one of the ways to reward our employees and ensure that their contributions are valued substantially,” said Rizwan Khan, VP – Human Resources, Porter.

About Porter

Founded in 2014, Porter is one of India’s leading logistics companies providing a spectrum of

intra-city and inter-city services. Working towards the company’s inspirational dream of ‘moving a billion dreams ahead, one delivery at a time’, Porter has serviced over 1 crore customers across 18 cities in India, with a workforce of 2,600 employees. The company strives to improve the lives of over 5 lakh owner-drivers by providing them with financial access, affordability, and financial independence. Founded by Pranav Goel, Uttam Digga & Vikas Choudhary, Porter has disrupted various domains of logistics by launching an on-demand marketplace for trucks, bikes and Packers & Movers.

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