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Zerodha completes ESOP buyback, Nithin Kamath says most satisfying day

In July this year, the discount brokerage had announced ESOPs buyback at a self-assessed enterprise value of Rs 7,000 crore.

September 16, 2020 / 08:16 AM IST
Nithin Kamath, CEO, Zerodha

Nithin Kamath, CEO, Zerodha


Indian brokerage firm Zerodha has completed its employee stock ownership plans (ESOPs) buyback, CEO Nithin Kamath tweeted on September 15.

"We just provided liquidity to everyone on the team through an ESOP buyback. My most satisfying day as CEO of @zerodhaonline'," Kamath tweeted.


In July this year, the discount brokerage had announced ESOPs buyback at a self-assessed enterprise value of Rs 7,000 crore.

Zerodha had planned to spend Rs 60-65 crore for the buyback, which was primarily intended to give "liquidity" as a 10-year anniversary gift to its employees.

"It’s been a decade since we started. We have not raised any capital and don’t have any intention to raise for the next few years. So, we thought this was a good time to give liquidity to people who have been around with us for a while," Kamath had said at the time of announcing the buyback.

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According to him, 700 employees stood to benefit from the ESOP buyback.

"It is expected to pay out around Rs 60-65 crores to 700 employees. While 700 will benefit, 50-60 of these employees will benefit more. It also gives our people more confidence," he said.
Moneycontrol News
first published: Sep 16, 2020 08:16 am

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