Udaan to buy back employee stocks worth Rs 165-175 crore

Online business-to-business marketplace Udaan will buy back employee stocks worth Rs 165-175 crore, joining a batch of Indian startups that have facilitated such liquidity programmes for their staff amid the Covid-19 pandemic, which has hit the domestic economy hard.

In an internal email to all employees, the company said, “We want to… reward our employees who have worked relentlessly over the last many months and years with a meaningful wealth creation opportunity through an employee stock ownership plan (Esop) liquidity offer 2021.”