Flipkart is considering a buyback of Employee Stock Options (ESOPs) worth nearly $125 million while it works on a proposed fundraising round. Flipkart has already begun discussions with investors to raise about $3 billion, which would value the company at around $35 billion.

Flipkart staff will be given the option to liquidating their ESOPs. The company has more than 15,000 full-time employees in India. When Walmart purchased Flipkart in May 2018, it had reserved $500 million to buy back ESOPs from Flipkart’s employees.

Canada Pension Plan Investment Board, Abu Dhabi Investment Authority (ADIA), and SoftBank Vision might invest around $2 billion in Flipkart. Many startups are using ESOPs as one way of retaining employees. Companies such as Swiggy, Zerodha, and Razorpay have also been buying back ESOPs. Paytm on April 19 had said that it had added 242,904 stock options, taking its ESOPs pool value to $604 million.