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Published
Dec 28, 2021
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Flipkart at top of tech Esops with Rs 17,000 crore pool

Published
Dec 28, 2021

E-commerce giant Flipkart has topped the list of Employee Stock Ownership Plans in Indian tech with its pool of Rs 17,000 crore ($2.6 billion). The business’ Rs 600 crore buyback initiative was one of the largest of 2021. 

Flipkart’s Esop pool could present lucrative financial opportunities for its employees - Flipkart


Walmart-owned Flipkart is followed by hotel business Oyo, grocery business Zomato, payments business Paytm, and beauty business Nykaa in terms of the size of its Esop pool. According to data sourced by the Economic Times from executive search business Longhouse Consulting. The year 2021 saw numerous Indian startups conduct buyback options for staff, which gave employees more financial opportunities.  
 
“The biggest issue remains taxation at the time of exercising unless startups are registered under Section 80IAC and exempted by the Income Tax department under Section 56(2),” former Paytm executive and gold loan company Indiagold’s co-founder Deepak Abbot told ET Tech. “Less than 300 startups receive the tax exemption, which is not even 0.5% of startups in India.” 

Esops look set to increase as a way for businesses to compensate employees for hard work in 2022. “So far in India, employees were always looking for fixed salary as per market benchmarks and Esops were usually a cherry on top,” data platform Tracxn co-founder Abhishek Goyal told ET Tech. “Now that many people have seen their Esops being cashed out, there will be an increasing trend where people would accept lower fixed salaries against higher Esop components, and this trend further aggravates the need to bring policy around Esops and in some ways also checks bad behaviour.”
 
 

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