Domestic ecommerce player Flipkart has approved a $50 million employee stock buyback programme, giving liquidity to about 7,000 to 7,500 staff members, according to an internal memo and an Economic Times report published Friday.
The Walmart-owned ecommerce firm, currently valued at $35 billion, will allow eligible employees to sell up to 5% of their vested stock options under the Flipkart Stock Option Plan 2012.
The options must have vested between July 6, 2022, and July 5, 2025. The liquidation price is set at $174.32 per option, with payouts scheduled for August 2025, Flipkart CEO Kalyan Krishnamurthy said in a note to employees.
Krishnamurthy added that if the company meets its key performance goals by the end of 2025, an additional 5% ESOP liquidity event could be unlocked in early 2026.
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“Our core businesses are performing well, and quick commerce continues to scale at an unprecedented pace, delivering unparalleled convenience to our customers,” he wrote in an internal memo.
Flipkart’s previous major ESOP buyback took place in 2023, when current and former employees received a one-time cash payout as part of a $700 million programme.
Flipkart also shifted its legal domicile from Singapore to India, part of a strategic alignment between its core operations and the domestic regulatory ecosystem. The reverse flip comes ahead of a potential IPO and follows similar transitions by Indian startups, including PhonePe and Razorpay.
The company is undertaking a hiring push, with plans to onboard 5,000 employees in 2025 across its quick commerce arm Flipkart Minutes, fintech platform Super.money, and AI verticals, it announced at its internal townhall, Flipster Connect.
Walmart CFO John David Rainey recently said Flipkart continues to see strong top-line growth despite bottom-line pressure due to increased investments.
Edited by Kanishk Singh
