PhonePe To Buy Back Its Shares From Its Employees

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PhonePe To Buy Back Its Shares From Its Employees
22 Nov 2021
4 min read

News Synopsis

Digital payments platform PhonePe has announced that it will buy back its shares from its employees worth Rs. 135 crore. According to a statement released by the company, the buyback offer will follow a three-tier model. The founders will not participate in the buyback. The top leadership will sell up to 10 percent whereas the employees are allowed to sell up to 25 percent of their vested stocks. 

The company launched a new PhonePe EOSPs plan and issued 100 percent to all employees at all levels the last December. This issue will complete its one year in next month. The company has said in its offer that almost 75 percent of the workforce is eligible to participate in this buyback offer. 

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