New Delhi, Jan 27 (PTI) Trident Group on Wednesday said it will distribute employee stock ownership plans (ESOPs) worth Rs 200 crore among its employees through the Trident Welfare Trust in the next financial year.
'Trident Group has announced distribution of ESOPs worth Rs 200 crore through the Trident Welfare Trust among its employees in the financial year 2021-22.
'The shares would be distributed free of cost with a 3-year lock-in period in recognition of those employees who continue to push the boundaries of success,' Trident said in a statement.
The company said it aims to sustain its growth momentum by strengthening its entrepreneurial culture and acknowledging employees as shareholders.
Trident said it aims to motivate its employees to deliver on the company's strategic road map 'Vision 2025' of achieving a revenue of Rs 25,000 crore by 2025.
Trident Group Chairman Rajinder Gupta said, 'We are committed to enabling wealth-creation opportunities for every single employee who has partnered with us in our journey, especially in trying times like the last year.' He added that driven by the entrepreneurial spirit of these individuals, the value of this fund is expected to increase to Rs 500 crore by the financial year 2022-23.
The ESOPs will be eligible for distribution to individual contributors and teams who meet performance benchmarks. The company aims to initiate disbursing ESOPs soon.
Trident Ltd is the flagship company of Trident Group. The company operates in two major business segments — textiles and paper. Its manufacturing facilities are located in Punjab and Madhya Pradesh. PTI SVK HRS hrs