India, Sept. 11 -- IPO-bound fintech unicorn PhonePe has launched an ESOP buyback programme worth up to INR 700 Cr to INR 800 Cr, sources told Inc42.

At least 1,000 PhonePe employees are eligible under the ESOP buyback programme, the sources said. However, they added that this number can go up as the company may increase the size of the buyback programme. Notably, PhonePe has around 12,000 employees currently.

A questionnaire sent to PhonePe didn't elicit any response till the time of publishing this story.

The buyback programme comes as the company prepares to pre-file its IPO papers later this month. It roped in Kotak Mahindra, Citigroup, JP Morgan and Morgan Stanley in February to helm its IPO.

The Walmart-owned company is looking ...