Ninjacart announces ESOP buyback worth 100 crore for staff

Ninjacart, an agriculture supply-chain platform, has announced employee stock options plan (ESOP) buyback plan for its employees, which is worth Rs 100 crore. Both current and former employees with vested ESOPs as of December 2021 are eligible to participate in the ESOP buyback programme, with the option to sell the entirety of their vested ESOPs.

This is the second time the Company has presented its employees with an ESOP buyback option. The Company gave buyback options to employee in 2019. As per the Company, this is a reward to all its employees who have been the real contributors to the Company’s success, for showing their resilience over the last two years.

This ESOP buyback plan offers he employees a “true chance at wealth creation”.

This ESOP buyback announcement comes after Flipkart and Walmart decided to invest strategically in Ninjacart. This funding will help the Company to further retain and attract the best of talent and further boost the Company’s vision towards building technology and infrastructure to organise, empower and enhance the lives of millions of agri value chain participants, including farmers, resellers, retailers, consumers, and supply chain participants.

As Thirukumaran Nagarajan, co-founder and CEO, Ninjacart, puts it, this is a chance for the Company to “give back to our current and previous employees who stood by us and helped us achieve every milestone with their extraordinary effort”.

It is a “small gesture of our gratitude towards our employees because, without them, we will not be where we are today”.

The Company is actively aiming to improve diversity in tech and product jobs by creating a fair playing field for aspirants and best-in-class talent from all over India. Ninjacart is looking to acquire more skilled professionals, develop a healthy working environment for its employees, and hire people with leadership characteristics who can reflect its fundamental values and leadership principles as the Company grows.