Home Business Snapdeal Co-Founders Kunal Bahl And Rohit Bansal To Take Home Rs 5 Crore Each In Salary In 2021

Snapdeal Co-Founders Kunal Bahl And Rohit Bansal To Take Home Rs 5 Crore Each In Salary In 2021

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New Delhi: E-commerce platform Snapdeal, which has turn out to be fairly well-liked in small-town India, spent practically Rs 161 crore on worker advantages within the FY21, reveal its IPO draft papers. Its Co-founder and CEO Kunal Bahl (appointed as govt director) was set to get a hard and fast compensation of Rs 3.5 crore, together with a efficiency bonus of Rs 1.5 crore.

Bahl is entitled to obtain such remuneration for a three-year interval, beginning April 1, 2021 until March 31, 2024.

One other co-founder Rohit Bansal, additionally appointed as Government Director this yr, may also obtain Rs 5 crore as wage. Bansal acquired Rs 3.5 crore in FY21.

Snapdeal Chief Monetary Officer (CFO) Vikas Bhasin acquired Rs 3.1 crore as gross compensation in FY21.

SoftBank-backed Snapdeal on Tuesday filed its draft pink herring prospectus (DRHP) for its IPO, which can comprise a recent situation of fairness shares price as much as Rs 1,250 crore and an offer-for-sale (OFS) of as much as 30.77 million fairness shares by current shareholders.

In keeping with the DHRP, every unbiased director is incomes Rs 1 lakh sitting charge per assembly, and is ready to earn Rs 24 lakh yearly until 2024.

ALSO READ | SoftBank-Backed Snapdeal Set To Roll Out IPO, Files DRHP To Raise Rs 1,250 Crore

In the meantime, the e-commerce market on Wednesday appointed Himanshu Chakrawarti as president of the corporate. Chakrawarti will lead varied features at Snapdeal to drive the corporate’s Bharat-focused, worth commerce technique and steer varied growth-related and operational initiatives.

“We’re delighted to welcome Himanshu to the Snapdeal household. He brings an in-depth understanding of worth retail and Omni-channel distribution operations in India,” stated Bansal.

“Moreover, his success with constructing manufacturers will add immense worth to Snapdeal’s Energy Manufacturers programme,” Bansal added.

“I’m excited concerning the alternative that lies forward at Snapdeal. I’m delighted to affix an exceptionally proficient and skilled crew at Snapdeal,” Chakrawarti stated.

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