Flipkart staff may get Rs 5,700 cr in stock buyback scheme in a few weeks

This will be the biggest Esop buyback in tech industry. Flipkart owns over 80% stake in PhonePe and is looking to exit the company. Walmart owns 10% in the Bengaluru-based fintech firm

E-commerce firm Flipkart and digital payments firm PhonePe are expecting a few big milestones in the next 2-3 weeks. Their parent company Walmart, the world’s largest retailer, is initiating an employee stock ownership plan (Esop) buyback, under which it may purchase PhonePe stocks worth $700 million from Flipkart employees, say sources. 

This Esop buyback is going to be the biggest in the tech industry. Flipkart owns over 80 per cent stake in PhonePe and is looking to exit the company. Walmart owns a 10 per cent stake in the Bengaluru-based fintech firm.

“It may be a mini-IPO for Flipkart as