The CarDekho Group that provides autotech and financial services solutions, has introduced a $5 million Employee Stock Ownership Plan (ESOP) Liquidity buyback programme. This initiative comes as a part of the group’s commitment to acknowledge the valuable contributions of its employees.
Open to current and former staff holding company shares, the initiative offers them a chance to liquidate their holdings, thus providing liquidity. The programme proves the company’s dedication to creating value for its workforce and fostering a mutually- beneficial relationship between employees and the company’s overall success.
In the fiscal year 2023, the CarDekho Group performed well with a remarkable 46 per cent year-over-year growth in consolidated revenue. This financial strength is reflected in the company’s substantial cash reserve dedicated to supporting both organic and inorganic growth initiatives within the autotech and financial-services sectors.
A significant move in line with its expansion strategy was the recent merger with Revv, a strategic strengthening of its shared mobility ecosystem. This aligns with CarDekho Group’s overarching vision to augment its service portfolio and solidify its standing as a leading player in the automotive and mobility industry.
Established in 2008, the CarDekho Group offers a diverse array of services through platforms such as CarDekho, BikeDekho, Zigwheels, PowerDrift, InsuranceDekho, Rupyy and OTO. The group has garnered support from notable investors including Sequoia, Hillhouse Capital, CapitalG, Ratan Tata Trust, Leapfrog, HDFC Bank, ICICI Bank and Axis Bank.
