Flipkart plans to buy back ESOPs worth $125 million

BENGALURU: Flipkart is mulling a buyback of employee stock options (ESOPs) worth nearly $125 million, sources told TOI. If it happens, it will create many new dollar millionaires. The plan is part of a new funding round that the Walmart-backed company is in the midst of. Flipkart is talking to investors to raise about $3 billion, a round that is expected to value the firm at $35 billion.

Flipkart employees will have the option to liquidate their vested ESOPs. In 2018, when Walmart acquired Flipkart, it had reserved $500 million to buy back ESOPs from Flipkart’s staffers. The buyback had turned a few hundred Flipkart employees into millionaires. Flipkart employs over 15,000 full-time employees in India.