On this page

Former Flipkart CXOs urge Walmart to treat ESOP holders fairly as about $4 billion in buybacks wait with no IPO date

At least eight former Flipkart executives wrote to Walmart's board on October 1 seeking fair treatment for vested ESOPs, with about $4 billion (Rs 38,000 crore) in buybacks pending. Flipkart's IPO has no firm timeline.

About $4 billion in Flipkart ESOP buybacks await Walmart's facilitation, with no IPO date
ESOP buybacks pending Walmart facilitation
about $4 billion (₹38,000 crore)
Employees set to receive ESOP payouts
More than 30,000
ESOP payout to current staff
about $2 billion
Former CXOs and executives signing letter
At least eight

Newer report , , MediaBrief : Flipkart and 22feet launch campaign for protein brand OWN's Big Billion Days debut, featuring Food Pharmer

Read next

  1. Flipkart elevates Souhardya Banerjee to director after more than four years at the company, , afaqs

Who and when

From the report. Source details below

Employees set to receive ESOP payouts: More than 30,000
ESOP payout to current staff: about $2 billion
Flipkart valuation in July liquidity exercise: $38 billion
Value generated for employees by Flipkart: over $1.5 billion
Former CXOs and executives signing letter: At least eight
VPs and SVPs who left in recent months: At least 10
Tiger Global estimated gain: about $3.5 billion

The source

Source Read the source at Moneycontrol

Filed

Also reported by Mint, Outlook Business, Inc42, The Hindu BusinessLine, NDTV Profit

First seen

By

Note Information, not investment advice. RetailIntel is not registered with SEBI.