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Udaan rolls out employee stock ownership plan liquidity programme

Our Bureau Bengaluru | Updated on April 30, 2021

Employees who have vested stocks as of March 31 are eligible for the benefit

The country’s largest B2B e-commerce platform Udaan has announced an employee stock ownership plan liquidity programme worth ₹165 crore - ₹175 crore.

In an internal communication to its employees on Thursday, co-founders Amod Malviya, Sujeet Kumar and Vaibhav Gupta said with the company turning five, leading investors have shown interest in participating in its organisation journey ahead through a secondary stock buyout programme.

“Over the years, our employees have worked relentlessly to transform the way trade is done in the country and empowering businesses of Bharat. We want to take this opportunity to reward our employees for their continuous effort and significant contribution with a meaningful wealth creation opportunity through an ESOP liquidity program. We would like to thank them for their resilience and dedication to their jobs in these unprecedented times,” the internal mail to the employees said.

All those employees who have vested stocks as of March 31, 2021, are eligible for the benefit. It will not apply to those who are serving notice.

Some of the biggest start-ups have rolled out similar plans. Flipkart was the first to do with a 100 per cent buyback of vested ESOPs. It was followed by several other start-ups.

Published on April 30, 2021

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