Source | economictimes.indiatimes.com | Brinda Sarkar
Home interiors company HomeLane has announced its employee stock option plan (Esop) buyback worth Rs. 27 crores, said a statement issued today.
This is the second time Esops have been bought back by the company. This round was initiated as part of its recent Series E investment led by IIFL AMC’s Late Stage Tech Fund, OIJIF II (Oman India Joint Investment Fund) and Stride Ventures.
HomeLane provided liquidity to all those who held vested Esops including active and former employees. Former employees were offered 100% liquidity, while active employees had the option to exercise up to 35% of their vested Esops. However, the active employees liquidated less than 50% of their eligible Esops. The sale proceeds have helped employees in enabling them to use the proceeds towards buying homes and cars, investing in retirement funds and donating to causes they feel strongly about.