India, Dec. 20 -- Unacademy Group CEO and cofounder Gaurav Munjal has issued a clarification on the controversy surrounding the edtech startup's decision to reduce the ESOP exercise window to just 30 days from 10 days earlier.

In an internal note shared by Munjal and accessed by Inc42, the cofounder said that the decision was taken in the interest of the employees.

Here's Munjal's full statement:

"Yesterday evening, an official communication from the company went to exited employees asking them to exercise their options at a valuation of INR 2,650 Cr.

Since then, there has been some backlash on why this is being done.

I want to clarify this. Unacademy is under M&A discussions at a similar valuation for an all-stock deal where there w...