Mumbai, Sept. 30 -- EV rental platform Zypp Electric has allocated Employee Stock Ownership Plans (ESOPs) valued at INR 110 million to more than 250 employees in September 2026.

The distribution covers 22 percent of the company's total workforce and spans multiple employee tiers, including over 50 EV technicians and field sales teams, ahead of a planned initial public offering (IPO).

The allocation follows earlier equity initiatives by the company, including an INR 15 million ESOP buyback for 15 employees in 2023. The company has also previously extended stock options to its gig delivery partners.

Akash Gupta, Co-Founder and CEO, Zypp Electric, said, "For us, ESOPs are fundamentally about creating ownership, not just retaining employee...