Unacademy Plans To Launch ₹30 Crore-ESOP Buyback Offer

NEW DELHI : Edutech platform Unacademy on Thursday said it will undertake an ESOP buyback programme of ₹25-30 crore in December this year. “All vested ESOPs until December 10, 2020, will be eligible for the buyback and current and exited employees may liquidate between 25% to 100% of vested ESOPs based on a specified scheme,” it added. The company said the size of the buyback pool is likely to be around ₹25-30 crore, based on the number of ESOPs liquidated by employees. Unacademy had conducted its first ESOP buyout in September 2019 and at that time, the buyback pool was about a tenth of the current buyback size, the statement said. Unacademy employees who have been granted ESOPs and have completed more than one year with the company will be eligible to participate in the latest liquidity round, the statement said. Last month, Unacademy had announced raising around ₹1,125 crore in a funding round led by Softbank Vision Fund 2 along with participation from existing investors, including Facebook. The fund infusion had valued Unacademy at around ₹10,900 crore.