Mahindra to give ₹450cr employee stock options to workers
Mahindra Group is giving a big shoutout to its team by launching a one-time Employee Stock Ownership Plan (ESOP) for 12,000-14,000 employees.
For the first time, shop floor workers are included too.
This move follows Mahindra's strong financial run—think popular models like the Thar—and covers folks at Mahindra & Mahindra, Mahindra Electric Automobile, and Mahindra Last Mile Mobility.
ESOP details and financial commitment
The ESOP is all about letting employees share in the company's success. As CEO Anish Shah puts it, the goal is to make people "co-owners," not just workers.
The plan applies to anyone who's been on permanent payroll for at least a year and involves a financial commitment of ₹400-450 crore.
Plus, if you're earning below the taxable limit (like many shop floor staff), you won't pay tax on your gains.
Fun fact: Mahindra's stock has jumped over 12x in five years and they've just overtaken Hyundai as India's second-biggest passenger vehicle maker!