Flipkart announces USD 50 million ESOP buyback; to benefit over 7,000 employees
A Flipkart spokesperson confirmed the ESOP buyback to TNIE.
This comes at a time when the Walmart-owned ecommerce firm prepares for an initial public offering that is expected in early 2026.
Earlier in 2023, the company announced a USD 700 million ESOP buyback. In a note to employees, Flipkart group CEO Kalyan Krishnamurthy said the board has approved a discretionary ESOP liquidity opportunity (under the Flipkart Stock Option Plan 2013) wherein, all active employees as on July 5, 2025 will have the opportunity to liquidate up to 5% of their outstanding options vested in the last three preceding years- between July 6, 2022 to July 5, 2025.
"The liquidation of the options will be at a price of USD 174.32 per option, and the payment will be made in August 2025," he said in the note.
If the company achieves key goals committed to the board by the end of the year, Krishnamurthy said they will unlock another 5% ESOP Liquidity event early next year. He also informed in the note that the company's core businesses are faring well and quick commerce continues to scale at an unprecedented pace.
He also said that the company's initiatives to reimagine customer experience for Gen Z through video-led, trend-first, AI-driven conversational commerce are breaking new ground, positioning them as innovators in a rapidly evolving market.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
23 minutes ago
- Hans India
Sula Vineyards' revenue falls 7.9 pc in Q1; stock drops nearly 40 pc in 1 year
Mumbai: Sula Vineyards Limited has reported a 7.9 per cent decline in its consolidated net revenue for the quarter ended June 2025 (Q1 FY26), with earnings falling to Rs 118.3 crore from Rs 128.4 crore in the same period the previous year (Q1 FY25). The company attributed the fall mainly to a 10.8 per cent drop in revenue from its own-brand wines, which came in at Rs 102.3 crore. The decline was largely due to a continued slowdown in urban consumption and the lingering effects of trade pre-loading in Maharashtra caused by changes in excise duties. The company also noted that last year's figures included a one-time benefit of Rs 10.4 crore from the unwinding of WIPS (Wine Inventory Purchase Scheme), without which this year's revenue was nearly flat on a year-on-year (YoY) basis. Despite the drop in overall revenue, Sula's wine tourism segment offered some relief, recording a 21.8 per cent increase in revenue to Rs 13.7 crore. The company credited this growth to higher footfalls, record Q1 occupancy at its resorts, and increased guest spending. The recently inaugurated Samruddhi Highway, which has shortened travel time between Mumbai and Nashik, also contributed to the positive momentum in tourism. Sula's premium wine brands like The Source and RASA continued to perform well. The company also introduced 'Sula Muscat Blanc' during the quarter -- marking India's first low-alcohol Muscat wine with 7.5 per cent ABV. Shares of Sula Vineyards closed on Friday's intra-day trading session at Rs 299.40, down by Rs 1.95 or 0.65 per cent on the National Stock Exchange (NSE). In the last five days, the shares were down by Rs 6.50 or 2.12 per cent. Over a one-month timeframe, the shares delivered a negative return of Rs 6.55 or 2.14 per cent. However, the decline in share price became more significant over longer timeframes. In the last six months, the stock was down by Rs 77.25 or 20.51 per cent. On a year-to-date (YTD) basis, the shares fell by Rs 115.50 or 27.84 per cent. Over the past one year, the stock declined by Rs 199.30 or 39.96 per cent.
Time of India
33 minutes ago
- Time of India
ED attaches assets worth over ₹762 crore in PACL case
NEW DELHI: Assets worth more than Rs 762 crore of PACL (the Pearls Group ) and its promoters have been attached under the anti-money laundering law in a case linked to an alleged Rs 48,000 crore Ponzi scheme, in which numerous investors were duped, the Enforcement Directorate (ED) said on Saturday. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the 68 immovable properties located across Punjab, Haryana, Delhi, Maharashtra, and in Australia, the central probe agency said in a statement. The money-laundering probe of 2015 stems from a Central Bureau of Investigation (CBI) FIR against Pearl Agrotech Corporation Limited (PACL), PGF Limited, its main promoter, late Nirmal Singh Bhangoo, and others for operating "fraudulent" investment schemes to deceive investors. Through these schemes, PACL and its directors "defrauded" the investors of about Rs 48,000 crore, the ED said. "The funds fraudulently collected from lakhs of gullible investors were systematically diverted and layered through multiple transactions to conceal their illicit origin," the agency added. The attached assets are in the name of Bhangoo, his family members and entities related to PACL, it said. The total value of these properties is Rs 762.47 crore, the ED said. Bhangoo died in August last year.
Hans India
38 minutes ago
- Hans India
GUJCOST opens registrations for ROBOFEST Gujarat 5.0
Gandhinagar: The Gujarat Council on Science and Technology (GUJCOST), under the state's Department of Science and Technology has announced the launch of registrations for ROBOFEST Gujarat 5.0 -- a national-level robotics competition focused on empowering young minds in science, technology, engineering, and mathematics (STEM), government officials said. Now in its fifth edition, the event invites students from schools and colleges across the country to compete in two categories -- Junior and Senior. Participants will be tasked with taking their ideas through the full innovation journey: from concept and design to prototyping and final presentation. The aim is to provide hands-on exposure to real-world applications of robotics, coding, and engineering. With an impressive Rs 5 crore prize pool, ROBOFEST 5.0 also offers mentorship by industry experts and a unique opportunity for students to file provisional patents for their innovations --fostering an early understanding of intellectual property and entrepreneurship. Registrations are now live at and will remain open until August 25, 2025. Gujarat is making focused investments in artificial intelligence (AI) and robotics to build a future-ready digital ecosystem. The state government, through the Department of Science and Technology, has introduced AI and emerging tech modules in more than 2,000 government schools, and plans are underway to expand this to all secondary-level institutions under the School of Excellence project. In higher education, Gujarat has established more than 50 dedicated AI and robotics labs in government engineering and polytechnic colleges, enabling hands-on learning through tools like Python, TensorFlow, Raspberry Pi, and Arduino. The state has also launched AI-based skill development programmes in partnership with organisations like NASSCOM and Intel, offering certifications and job-linked training to students and educators. Under the Gujarat Industrial Policy 2020, AI and robotics startups receive capital subsidies up to Rs 50 lakh, access to co-working spaces, and seek support from government-funded incubation centres. In addition, Centers of Excellence for AI and Industry 4.0 are being set up at institutions such as IIT-Gandhinagar and Pandit Deendayal Energy University, with a focus on applied research, smart manufacturing, and data analytics. Gujarat is also collaborating with international tech firms to build AI-powered smart city frameworks in Ahmedabad, Surat, and Vadodara, using real-time data for traffic, waste, and energy management. These initiatives are part of the state's broader vision to integrate AI across governance, education, and industry, in alignment with India's Digital India and AI for all strategies.
