Flipkart to buy back ESOPs worth $100 million
File photo. Photograph: (Reuters)
Flipkart will repurchase employee stock options (ESOP) worth US$ 100 million.
Flipkart employees will be allowed to sell a certain percentage of their shares.
The Economic Times reported that the buy-back is one of the largest-such programmes to date in the Indian startup scene.
The Economic Times reported sources familiar with the matter as saying the move would benefit close to 6,000 current and former Flipkart employees, and that some people would walk away with "tens of crores".
The repurchase programme is expected to close by December 2017.
Giving out employee stock options is a way of retaining high-level employees.