BENGALURU: Ecommerce major Flipkart has announced an employee stock ownership plan (ESOP) buyback valued at USD 50 million (about Rs 428 crore) and this is expected to benefit about 7,000 employees.
A Flipkart spokesperson confirmed the ESOP buyback to TNIE.
This comes at a time when the Walmart-owned ecommerce firm prepares for an initial public offering that is expected in early 2026.
Earlier in 2023, the company announced a USD 700 million ESOP buyback. In a note to employees, Flipkart group CEO Kalyan Krishnamurthy said the board has approved a discretionary ESOP liquidity opportunity (under the Flipkart Stock Option Plan 2013) wherein, all active employees as on July 5, 2025 will have the opportunity to liquidate up to 5% of their outstanding options vested in the last three preceding years- between July 6, 2022 to July 5, 2025.
"The liquidation of the options will be at a price of USD 174.32 per option, and the payment will be made in August 2025," he said in the note.
If the company achieves key goals committed to the board by the end of the year, Krishnamurthy said they will unlock another 5% ESOP Liquidity event early next year. He also informed in the note that the company's core businesses are faring well and quick commerce continues to scale at an unprecedented pace.
He also said that the company's initiatives to reimagine customer experience for Gen Z through video-led, trend-first, AI-driven conversational commerce are breaking new ground, positioning them as innovators in a rapidly evolving market.