CarDekho to buyback ESOPs worth $3.5 million

Consumer automotive portal CarDekho will buyback ESOPs worth $3.5 million (about Rs 25 crore) as part of its second ESOP repurchase plan in the current financial year. This will benefit around 100 current and former employees, the company said, allowing them to cash out 50% of their vested options.

CarDekho, owned and operated by the GirinarSoft Group, had repurchased Esops worth $2 million in April last year, benefiting 71 employees.

“Our success till date is a testimony of the great team we have built and this scheme is merely a way of thanking the employees for their significant contributions and dedication,” said Amit Jain, CEO of CarDekho, when announcing the buyback.

Published in Economic Times on February 12 | Source: https://bit.ly/2XO2GWG
Click here for content on actionable insights that you can use to deal with the business impact of COVID-19!
Click here for a blog on how ESOPs can become meaningful rewards in an employee’s career.