Razorpay to buy back ESOPs for the third time worth $10 Million
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New Delhi, March 4 -- FinTech Unicorn Razorpay has announced that it will buy back ESOPs from its employees. Under this scheme, employees will have an option to sell 33% of their vested stocks to the company. According to Harshil Mathur, Co-Founder and CEO, Razorpay, this is their third buyback since the start of the company. "Typically, anyone who has spent more than a year with us holds these stocks. It is a good opportunity for wealth creation among our staff," he said. Before this, Razorpay bought back ESOPs worth $10 million in two announcements.
The buyback of $10 million or Rs.73 crore shares will be from 750 existing and former employees. The buyers in the process are Sequoia Capital India and GIC, two of Razorpay's key investors...
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