New Delhi, May 14 -- Skyroot Aerospace Pvt. Ltd. is offering its founders stock options on the lines of SpaceX's "moonshot" executive pay package to founder Elon Musk, provided they scale India's most well-funded spacetech startup to certain lofty goals.

The founder-only employee stock option plan will give Pawan Chandana and Naga Bharath Daka up to a 4% equity stake, provided their company generates revenue by launching a satellite and raises $100 million at a valuation of more than $1 billion by December 2028. The Hyderabad-based startup will issue these shares to CEO Chandana and COO Daka in three tranches. Chandana stands to get twice as many shares as Daka.

The first two tranches are contingent on the startup successfully placing a...