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Flipkart Announces $50 Mn ESOP Buyback at $36 Bn Valuation

• ByStartupStory     |    July 12, 2025

Flipkart has rolled out a new $50 million ESOP (Employee Stock Option Plan) buyback initiative, offering liquidity to thousands of its employees. According to an internal note by CEO Kalyan Krishnamurthy, eligible employees will be allowed to liquidate up to 5% of their vested ESOPs as of July 5, 2025, at a buyback price of $174.32 per option. The disbursement will take place in August 2025 under the Flipkart Stock Option Plan 2012.

The initiative is expected to benefit between 7,000 and 7,500 employees, according to estimates. The company, currently valued at $36 billion, has positioned this liquidity event as a reward for long-term commitment and performance. Krishnamurthy also hinted at another 5% liquidity window in early 2026, contingent upon Flipkart meeting specific business goals by the end of 2025.

A Flipkart spokesperson confirmed the development to Entrackr, underscoring the company’s ongoing efforts to share value creation with its employees. This move follows Flipkart’s historic $700 million ESOP payout in 2023, one of the largest employee buybacks in India’s startup ecosystem.

The latest ESOP buyback comes amid a broader trend in India’s startup sector. So far in 2025, companies like Darwinbox, Rapido, Univest, Deserve, and Even Healthcare have collectively announced ESOP buybacks and liquidity programs worth $67 million. In 2024, Indian startups facilitated over $200 million in ESOP buybacks, with 2023 hitting a record $802 million, according to data from TheKredible.

Flipkart is also said to be preparing for an IPO at a projected valuation of $60–$70 billion. The company’s board has already approved shifting its holding structure from Singapore to India, seen as a precursor to its public market debut.

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