• Chethan Machaknur

Unacademy plans to launch Rs 30 crore-ESOP buyback offer

Edutech platform Unacademy on Thursday said it will undertake an ESOP buyback program of Rs 25-30 Cr in December this year.

The buyback - which will be held on December 10, 2020, and is open for current and former employees - is the second such liquidity event at the five-year-old company, a statement said.

"All vested ESOPs until December 10, 2020, will be eligible for the buyback and current and exited employees may liquidate between 25 per cent to 100 per cent of vested ESOPs based on a specified scheme," it added.

The company said the size of the buyback pool is likely to be around Rs 25-30 crore, based on the number of ESOPs liquidated by employees.

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.

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