<p class="title">Flipkart, India's largest e-commerce marketplace, on Wednesday completed its Employee Stock Options repurchase programme (ESOP), making it the largest-ever share buyback programme in India. </p>.<p class="bodytext">According to a company statement, over 3000 past and present employees of Flipkart Group participated in the buyback offer that led to a disbursement of over $100 million.</p>.<p class="bodytext">Initiated in October, the programme gave all eligible current and former employees of Flipkart, and group companies Myntra, Jabong and PhonePe, an opportunity to sell to the company a part of their vested ESOP units.</p>.<p class="bodytext">The company also claimed that the repurchase programme is the single largest liquidity providing event in India by an unlisted, private company to its ESOP holders.</p>.<p class="bodytext">Commenting on the development, Flipkart Chairman Sachin Bansal and Group CEO Binny Bansal said in a statement that employees are the biggest source of strength and without them Flipkart couldn't have built the e-commerce industry in India.</p>.<p class="bodytext">"As an organisation, we believe they should be equal partners in Flipkart's success. This ESOP repurchase programme is an extension of that culture, and a token of thanks for the dedication and hard work they have put in over the years," they stated.</p>.<p class="bodytext">"We're delighted to be setting the benchmark on this important parameter, not only in the startup industry but the wider Indian private sector as well," they said.</p>.<p class="bodytext">This also marks the fourth instance in the past 5 years when Flipkart has given its ESOP holders an opportunity to encash a percentage of their vested stock options, an unparalleled feat among startups and private companies in India.</p>.<p class="bodytext">According to analysts, the share sale is happened at a lower valuation than Flipkart's peak valuation of $15 billion. "But it is a bonanza for for most of Flipkart's investors, especially Tiger Global and Accel,"said an analyst.</p>
<p class="title">Flipkart, India's largest e-commerce marketplace, on Wednesday completed its Employee Stock Options repurchase programme (ESOP), making it the largest-ever share buyback programme in India. </p>.<p class="bodytext">According to a company statement, over 3000 past and present employees of Flipkart Group participated in the buyback offer that led to a disbursement of over $100 million.</p>.<p class="bodytext">Initiated in October, the programme gave all eligible current and former employees of Flipkart, and group companies Myntra, Jabong and PhonePe, an opportunity to sell to the company a part of their vested ESOP units.</p>.<p class="bodytext">The company also claimed that the repurchase programme is the single largest liquidity providing event in India by an unlisted, private company to its ESOP holders.</p>.<p class="bodytext">Commenting on the development, Flipkart Chairman Sachin Bansal and Group CEO Binny Bansal said in a statement that employees are the biggest source of strength and without them Flipkart couldn't have built the e-commerce industry in India.</p>.<p class="bodytext">"As an organisation, we believe they should be equal partners in Flipkart's success. This ESOP repurchase programme is an extension of that culture, and a token of thanks for the dedication and hard work they have put in over the years," they stated.</p>.<p class="bodytext">"We're delighted to be setting the benchmark on this important parameter, not only in the startup industry but the wider Indian private sector as well," they said.</p>.<p class="bodytext">This also marks the fourth instance in the past 5 years when Flipkart has given its ESOP holders an opportunity to encash a percentage of their vested stock options, an unparalleled feat among startups and private companies in India.</p>.<p class="bodytext">According to analysts, the share sale is happened at a lower valuation than Flipkart's peak valuation of $15 billion. "But it is a bonanza for for most of Flipkart's investors, especially Tiger Global and Accel,"said an analyst.</p>