“For us, ESOPs are fundamentally about creating ownership, not just retaining employees. The growth of Zypp has been built by people across the organisation who have taken ownership of challenges, solved problems on the ground and helped us scale. As we enter our next phase of growth, we want more of our people to participate in the value they are helping create. Extending ESOPs across employee bands, including our EV technicians, field sales teams, reflects our belief that ownership should be shared across the organization.” Akash Gupta, Co-Founder & CEO, Zypp Electric
Zypp Electric has allocated Employee Stock Ownership Plans (ESOPs) worth ₹11 crore to 250+ employees in September, 2026. The allocation extends the company’s employee ownership programme across functions and employee bands, including the EV technicians who keep its fleet on the road as company plans growth towards IPO journey. The recipients represent 22% of Zypp’s workforce and include 50+ EV technicians.
The allocation comes as Zypp Electric enters its next phase of growth. The company operates over 30,000 EV fleets across eight cities and is targeting a fleet of 100,000 vehicles across 20 cities by FY28.
Commenting on the development, Akash Gupta, Co-Founder & CEO, Zypp Electric, said, “For us, ESOPs are fundamentally about creating ownership, not just retaining employees. The growth of Zypp has been built by people across the organisation who have taken ownership of challenges, solved problems on the ground and helped us scale. As we enter our next phase of growth, we want more of our people to participate in the value they are helping create. Extending ESOPs across employee bands, including our EV technicians, field sales teams, reflects our belief that ownership should be shared across the organization.”
The latest allocation builds on Zypp Electric’s earlier ESOP initiatives. In 2023, the company undertook an ESOP buyback of approximately ₹1.5 crore for 15 employees, providing them liquidity against a portion of their vested options. The company also takes pride in being the only company to give ESOPs to gig delivery partners. The current allocation significantly broadens the programme, extending ownership to over 250 employees across functions and roles.
The allocation comes against the backdrop of improving operating performance. In Q1 FY27 (April–June 2026), Zypp Electric’s net revenue grew 88% year-on-year. EBITDA margin has also improved from -4% to 10% over the same period year-on-year and has since risen to 17% in the previous 12 months. The company’s utilisable fleet grew 71% year-on-year to 30,000 vehicles in the quarter.
