Payments platform PhonePe rolls out Rs.135-Cr ESOP buyback

Flipkart-owned digital payments platform PhonePe has announced a buyback of ESOPs worth INR 135 crore for all employees. The buyback will be carried out in a three-tier model wherein the top leadership can sell up to 10% of their vested stock and all other current employees can sell up to 25%. The company's founders, however, will not be participating in the buyback. In December 2020, PhonePe launched its ESOPs programme where it allotted shares to all its 2,200 employees starting at a minimum of INR 3.5 lakh, cumulatively worth INR 1,500 crore.