Business briefs

Adda247 grants ESOPs worth Rs 150 crore to employees * Google-backed government job preparation app Adda247 on Monday said it has granted stock options under its Employee Stock Ownership Plan (ESOP) programme worth Rs 150 crore to its employees.

The total valuation of the ESOP pool is worth Rs 150 crore as of the date and has an annual vesting period of 4 years, the company said in a statement.

''The entire purpose of ESOP policy is also to give priority and importance to our employees. Through the policy, we want employees to grow with the organisation and also reap monetary benefits for themselves. ''Eventually, we want to generate wealth for all our employees with the dream to create at least a hundred 'crorepatis' from our employees prior to our IPO,'' Adda247 founder and CEO Anil Nagar said. *** Hero Electric partners with NP Technology and Financial Advisor * Hero Electric said on Monday it has partnered with NP Technology and Financial Advisor to expand its reach to platform-based fleet operators.

The collaboration will further add gig workers in the driver-owner model to the overall platform, the electric scooter company said.

The partnership will speed up the addition of gig workers on green mobility platforms for personal and freight movement for the last-mile delivery segment, it said.

According to company, the two partners together will train, provide financial assistance, and on-board riders on the platform, to provide complete business ecosystem support to such workers operating in various segments.

*** JWL to launch its commercial e-vehicles at Auto Expo 2023 * Jupiter Wagons Ltd. (JWL) will showcase and launch its commercial electric vehicles at the Auto Expo – The Motor Show 2023, the company said on Monday.

Auto Expo - The Motor Show 2023 is scheduled to be held in January.

These vehicles will be in the light and medium commercial vehicle category in the 2.2-7.2 tonne range, the company said.

JWL earlier this year announced its foray into the Electric Vehicle (EV) segment with the launch of 'Jupiter Electric Mobility' focusing on commercial EVs. The EV arm of JWL has formed a joint venture with a public listed firm in the US and Canada, GreenPower Motors.

Jupiter Electric Mobility plans to undertake end-to-end production in India and establish service facilities in key markets to expand to after-sales requirements as well, it added.

*** Radius Synergies launches Electric Vehicle Charging Dock * Radius Synergies has announced its entry in the domestic Electric Vehicle (EV) space with the launch of Electric Vehicle Charging Dock (EVCD).

EVCD is a 360-degree solution for EV charging and revenue management.

Powered by Xenius, EVCD is a web and app-based plug-n-play device which is capable of charging any EV and that details out the charger location on Google map, the company said.