Delhivery has approved a fresh tranche of 1,00,360 Employee Stock Options (ESOPs) for eligible employees under its 2012 ESOP scheme, effective 1 May 2026, with each option exercisable at ₹1 per share.
The grant was cleared by the company’s board on May 4, 2026, and disclosed through a regulatory filing. Out of the total options, 88,360 will vest over a four-year period: 10% after the first year, 30% after two years, and 15% every six months thereafter. The remaining 12,000 options follow a faster vesting cycle, with 40% unlocking after the first year and the balance releasing in subsequent tranches.
The announcement arrived on a rough day for Delhivery’s stock. Shares fell as much as 3.5% on May 5, snapping a six-session rally after Amazon unveiled an aggressive push to build a third-party logistics network in India, rattling sentiment across the sector. Analysts described the Amazon move as a structural threat to established players, and FedEx and UPS shares also fell sharply in global trading in response to the broader news.
Against that backdrop, the ESOP grant signals management’s commitment to keeping its talent base aligned with the company’s long-term trajectory. Delhivery has maintained a regular cadence of equity grants through 2026, having approved 83,900 options in January, 31,300 in March, and 58,250 in April, before the current May tranche. Cumulatively, that brings total options granted in the first five months of the year to nearly 2.74 lakh, a consistent deployment of equity-based retention even as competitive pressures mount.
The company is scheduled to announce its Q4 FY26 financial results on 16 May. Delhivery reported an 18% revenue increase to Rs 2,798 crore in Q3 FY26 and guided for 20% volume growth, with part-truckload margins expected to improve beyond 16%.
