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Flipkart has completed Employee Stock Option repurchase program (ESOP) of over USD 100 million. More than 3,000 current and former employees of Flipkart, along with Myntra, Jabong, and PhonePe have participated in the repurchase.
The company in a statement said, “In all, over 3,000 past and present employees of the Flipkart Group participated in the buyback offer that led to a disbursement of over USD 100 million.”
Further, this repurchase plan is the fourth time in the last 5 years, where Flipkart has given its ESOP holders an opportunity to encash a percentage of their stock options. Moreover, this is the largest ESOP buyback by a private company in the country.
