Capgemini Offers Another ESOP To Most Employees, India Staff Eligible To Participate

 

French IT services firm Capgemini, which has 1.2 lakh of its 2 lakh employees in India, is rolling out a new ESOP (employee stock ownership plan) that covers 96% of employees. This is its seventh employee ownership plan and is aligned to development and performance goals.

The subscription price of the new shares will be set on November 5 and the entire process will be completed on December 17. Last year, Capgemini rolled out its sixth employee share ownership plan, which was offered to approximately 98% of the employees. The latest pool will comprise a maximum of 30 lakh shares.

“Employees who have, as on November 12, 2020, completed 3 months’ tenure with the organisation and will continue to be part of Capgemini for at least one day during November 10-12, 2020 (both days inclusive) are eligible to subscribe for ESOPs,” said Pallavi Tyagi, CHRO for India in Capgemini.

The 4% who are excluded from this ESOP programme are in geographies where the scheme cannot be implemented due to legal and tax boundaries of those countries. In India, all employees are eligible to participate.

The ESOP will have a lock in of five years. The subscription will be in euros.

Employees will be able to subscribe to Capgemini shares using the company defined formulas that will allow employees to benefit from a guarantee on the amount invested into this plan.

Other firms have given ESOPs too. Infosys is learnt to have created Rs 20,000 millionaires and 500-dollar millionaires in the 1990s and 2000s. It had at one point stopped stock options. It revived the programme last year allocating 50 million shares to employees based on performance and shareholder value creation.

Sandip Ginodia , CEO

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