Flipkart completes buyback of ESOPs worth $100 mn

Over 3,000 current and former employees of Flipkart, Myntra, Jabong and PhonePe participated in it

India’s largest e-commerce marketplace Flipkart on Wednesday said it has completed the $100-million buyback of employee stock options (ESOPs), making it the largest share buyback programme by an unlisted company in the country.

The programme allowed over 3,000 current and former employees of Flipkart as well as subsidiaries Myntra, Jabong and PhonePe to sell a percentage of their stock options. This is the fourth and largest share buyback Flipkart has done in the past five years.

“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