PhonePe announced the repurchase of ESOP worth RS 135 Crore for employees

New Delhi: Digital Phoneeepe Payment Platform on Friday announced the repurchase of employee shares options (ESOs) worth RS 135 Crore.
Purchase offers re-participating in the three-level model, based on seniority, said statement.
The founder of the company will not participate in repurchases, while the top leadership can sell up to 10 percent of their shares, he added.
All other employees can now sell up to 25 percent of their shares.
The company currently has more than 2,500 employees.
“Last December, we launched a new Phonepe ESOPS plan and spend iceop to 100 percent of our employees at all levels, functions, and values.
All of these employees will complete one-year cliff from their shares next month, so it is the right time to offer some Liquidity to everyone, “said the head of Phoneepe Hr Manmet Sandhu.
Sandhu added that nearly 75 percent of the Phoneepe workers are now eligible to participate in the current purchase offer, and “for the most part it is the first time in their career that they already have an esops or have the opportunity to liquidate them”.
In December last year, Phoneeepe launched its ESOPS program, where it allocated ESOPs to all 2,200 employees starting at a minimum of 3.5 lakh Rs, cumulatively worth Rs 1,500 Crore.
Phoneeep has more than 335 million registered users in this country.
Using phonepe, users can send and receive money, refill cellphones, make various types of payments, and invest in gold and silver.
It has been formed into financial services in 2017.
Phonepe is also accepted in more than 22 million merchant outlets throughout India.