Xiaomi Corp’s India overseeing executive and worldwide VP Manu Kumar Jain is set to profit considerably when the $18-billion Chinese cell phone producer lists shares in Hong Kong throughout the following couple of months in one of the greatest introductory open contributions (IPOs) all around in four years.
Jain, 37, is the main nonnative among the 10 workers on board and senior administration group who has shares dispensed under the representative stock proprietorship design (ESOP) according to the draft outline recorded on Thursday. It said Jain has 2.3 million offers, making him its third-most noteworthy ESOP holder all inclusive.
He was dispensed the offers in five tranches beginning June 2014 when the brand entered India, with the last two granted in January and February this year, according to the recording. ESOP holders are driven by Xiaomi Corp CFO Chew Shou Zi and Wang Chuan, senior VP of the TV business, with 5 million offers each. Jain didn’t react to inquiries.
Filings didn’t state the amount Xiaomi is hoping to bring up in the IPO, add up to number of offers or separate possessions by rate. A Reuters report said it’s probably going to bring up in regard to $10 billion at a valuation of $80-100 billion.
An expert at a main cellphone industry tracker said Jain’s holding will get a generous sum. “It will be hard to gauge valuation of Jain’s holding in Xiaomi at the present time, however it could well go into a couple of a great many dollars,” he stated, asking for secrecy.
Jain is credited with building the organization’s cell phone business in India and influencing it to advertise pioneer in the last quarter, surpassing South Korean mammoth Samsung. His gross compensation was Rs 65 lakh in FY17 according to Registrar of Companies filings.
“Jain has taken the position vacated by Xiaomi’s ex-global VP Hugo Barra who quit in January last year and was one of the most celebrated foreign employees in the company,” said a senior business partner of Xiaomi.
Preceding joining Xiaomi, Jain was the prime supporter and overseeing chief of design e-commerce business webpage Jabong, which he left in 2014. The Indian Institute of Technology-Indian Institute of Management former student is a standout amongst the most dynamic Indian CEOs via web-based networking media.
