Tuesday, March 21, 2023

Startups bought back again ESOPs value in excess of $400 million previous yr – Hourly Primary News

BENGALURU: Around $400 million value of ESOPs had been purchased back by Indian startups in 2021, according to a report on startups by Nasscom and consultancy agency Zinnov. Around 10,000 workers benefited from these buybacks. The ESOP pool has expanded to $900 million with Sebi’s revised policies, the report claimed.
Sebi modified polices past 12 months to allow for ESOPs to be presented even to workers on contracts, and people on probation prior to affirmation. Lots of new age companies have been buying back staff stock choices to reward them.
ESOPs have emerged as a talent retention resource and have been integral to the compensation tactic of startups. Details showed that there are 50 startups with sizeable ESOP buybacks which includes BrowserStack ($50 million), Swiggy ($40 million), UpGrad ($29. 5 million), Zerodha ($27 million), Udaan ($23 million), and ShareChat ($19 million).
Flipkart previous calendar year acquired back ESOPs worth Rs 600 crore ($80. 5 million), creating lots of greenback millionaires.
IPOs have also turned into important liquidation situations.

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