Flipkart completes buyback of employee stock options worth $100 million

Bengaluru: India’s largest online retailer Flipkart has completed its $100 million repurchase of employee stock options (ESOPs), making it the largest-ever share buyback programme in the history of the Indian startup ecosystem.

In a short statement on Wednesday, Flipkart said that over 3,000 existing and former employees of Flipkart, Myntra, Jabong and PhonePe had participated in the share repurchase programme.

“Employees are our biggest source of strength, without whom Flipkart



couldn’t have built the e-commerce industry in India. 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. 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,” said Flipkart founders Sachin and Binny Bansal (not related) in a statement.