Ninjacart pronounces Rs 100-crore ESOP buyback program


New Delhi: Ninjacart, an agri-platform that leverages expertise to organise the agriculture ecosystem, on Tuesday introduced an worker inventory possession plan (ESOP) buyback price Rs 100 crore.

Each present and former workers with vested ESOPs as of December 2021 are eligible to take part within the programme, with the choice to promote the whole thing of their vested ESOPs, the corporate stated in an announcement.

That is the corporate’s second ESOP buyback. Ninjacart had performed the primary buyback in 2019.

“Ninjacart workers have been elementary to the corporate’s success and this ESOP’s plan will reward them for the dedication… They’ve proven over the past two years,” it stated.

The ESOP buyback comes on the heels of Flipkart and Walmart saying a recent spherical of joint strategic funding in Ninjacart price USD 145 million.

Commenting on the ESOP buyback plan, Thirukumaran Nagarajan, co-founder and CEO, Ninjacart stated, “I’m overjoyed to share that this new yr’s, we can provide again to our present and former workers who stood by us and helped us obtain each milestone with their extraordinary effort.”

This ESOP buyback programme is a “small gesture of our gratitude” in the direction of the corporate’s workers for his or her contribution, he added.

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