Education: BTech in CS (Tier 3)
Years of Experience: 6 Y (Service based MNCs)

Title/Level: SDE 3
Location: Banglore

Salary: 24 LPA
Relocation/Signing Bonus: NA
Stock bonus: 15 % of base (vested over 4 yrs) ~ 360000
Bonus: 20% Performance based on base ~ 480000
Total comp (Salary + Bonus + Stock): ~ INR 32 LPA ( For 1st year - 29 LPA)
Benefits: Standard Walmart benefits

is it lowball offer? (previous ctc - 15.5 fixed + 1 lakh ~16.5 LPA)