Udaan to buy back employee stocks worth Rs 165-175 crore

Udaan to buy back employee stocks worth Rs 165-175 crore
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Last Updated: Apr 29, 2021, 04:28 PM IST
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Synopsis
Udaan joins a slew of companies such as Cred, Swiggy, Razorpay, Acko, Zerodha and Browserstack that have announced Esop buybacks in the past six months
ETtech
Illustration: Rahul Awasthi
Online business-to-business marketplace Udaan will buy back employee stocks worth Rs 165-175 crore, joining a batch of Indian startups that have facilitated such liquidity programmes for their staff amid the Covid-19 pandemic, which has hit the domestic economy hard.
In an internal email to all employees, the company said, “We want to… reward our employees who have worked relentlessly over the last many months and years with a meaningful wealth creation opportunity through an employee stock ownership plan (Esop) liquidity offer 2021."

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