Flipkart to buy back employee stock option

Walmart-owned Flipkart will undertake a buyback employee stock options worth about ₹600 crore, as indicated by sources. Prior in the day, Flipkart reported raising $3.6 billion (about ₹26,805.6 crore) in financing from a clutch of investors that valued the e-commerce major at $37.6 billion (about ₹2.79 lakh crore).

In an email to representatives, Flipkart Group Chief Executive Officer Kalyan Krishnamurthy commended the basic played by the staff in reaching this milestone.

“It has always been our endeavor to provide our employees a opportunity to liquidate their vested options regularly. This year, we are satisfied to declare a buyback of 5% of the previous three years’ vested choices. With this milestone occasion for us, I am glad to share that we are offering our employees an extra buyback of 5% of all vested options as we stay focused on wealth creation for you,” he said.