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CoinDCX announces Rs 111 Cr ESOP buyback for current and former employees

EntrackrEntrackr · 4h ago
CoinDCX announces Rs 111 Cr ESOP buyback for current and former employees
Medial

CoinDCX announces Rs 111 Cr ESOP buyback for current and former employees Crypto exchange CoinDCX operates under the DCX Group, which also includes CoinDCX Ventures and Okto, its Web3 wallet platform with over 20 million users. Crypto exchange CoinDCX has announced its largest-ever ESOP (Employee Stock Ownership Plan) liquidity event worth Rs 111 crore. The strategic buyback will enable wealth creation for over 500 current and former employees of the Mumbai-based company. The development comes four months after CoinDCX received an undisclosed investment from Coinbase at a post-money valuation of $2.45 billion. The company’s latest major funding round was in April 2022, when it raised $135 million at a valuation of over $2 billion. Commenting on the buyback, Sumit Gupta, co-founder of CoinDCX, said, “The Indian crypto industry has navigated an incredibly demanding landscape, particularly as we work toward a more defined regulatory framework. Yet, despite these headwinds, CoinDCX has emerged stronger and more resilient than ever. This is a testament to the unwavering trust of over 2 crore customers in India and the UAE, and the steady support of our investors and ecosystem partners.” Founded in 2018, CoinDCX offers crypto trading and investment services to more than 20 million users in India. The platform supports over 500 crypto assets and 200 trading pairs across products tailored for both retail and institutional investors. In 2024, the company entered the Middle East and North Africa (MENA) region through the acquisition of BitOasis. CoinDCX operates under the DCX Group, which also includes CoinDCX Ventures and Okto, its Web3 wallet platform with over 20 million users. This is the fourth major ESOP buyback announced in 2026. Recently, Cashfree rolled out an ESOP buyback for over 400 employees, healthtech firm Innovaccer completed a buyback worth about $75 million, and SaaS unicorn BrowserStack announced a $125 million ESOP liquidity programme. For context, ESOP buyback activity in 2025 remained subdued at just over $75 million. In comparison, total ESOP buybacks, payouts, and liquidity stood at around $190 million in 2024, significantly lower than $802 million in 2023, $440 million in 2021, and $200 million in 2022.

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Innovaccer announces Rs 600 Cr ESOP buyback

EntrackrEntrackr · 1m ago
Innovaccer announces Rs 600 Cr ESOP buyback
Medial

Innovaccer announces Rs 600 Cr ESOP buyback Healthtech company Innovaccer has completed an ESOP buyback worth Rs 600 crore, around $75 million, providing liquidity to current and former employees holding vested stock options. According to an Inc42 report, an undisclosed number of current and former employees holding restricted stock units benefited from the ESOP buyback. The buyback follows Innovaccer’s $275 million Series F funding round, which included both primary and secondary capital and saw participation from investors such as B Capital, Kaiser Permanente, and Generation Investment Management. Founded in 2014, Innovaccer operates a healthcare data and analytics platform that enables hospitals, health systems, and insurers to unify clinical and operational data. The company has built a strong presence in the US healthcare market and works closely with provider networks and payers. For the fiscal year ended March 2025, Innovaccer reported operating revenue of Rs 387.71 crore and a profit of Rs 36.1 crore. Over the past year, the company led by Abhinav Shashank also acquired two companies, Cured and Pharmacy Quality Solutions, to strengthen its capabilities.

Cashfree Payments announces ESOP buyback for over 400 employees

EntrackrEntrackr · 1m ago
Cashfree Payments announces ESOP buyback for over 400 employees
Medial

Cashfree Payments announces ESOP buyback for over 400 employees Bengaluru-based fintech firm Cashfree Payments has announced an ESOP buyback programme covering over 400 employees, including 175 former employees. The buyback provides liquidity to current and former team members holding vested stock options. Cashfree did not disclose the size of the buyback or the valuation at which the shares were repurchased. The move comes a year after Cashfree’s $53 million funding round led by Krafton. Overall, the company has raised $95 million from investors, including Y Combinator, Smilegate Investments, and State Bank of India. Founded in 2015, Cashfree Payments operates a payments and payouts infrastructure platform for businesses. The company processes more than $80 billion in annual payment volumes and serves over one million merchants, including startups and large internet companies. Cashfree has also been expanding its cross-border payments business, which currently contributes around 10% of the company’s revenue, following strong growth in transaction volumes over the past year. According to TheKredible, Cashfree reported operating revenue of Rs 640 crore in FY25, compared with Rs 643 crore in FY24. The company’s net loss widened 14% to Rs 154 crore from Rs 135 crore in the previous fiscal year. This marks the third major ESOP buyback announcement in 2026. Recently, healthtech firm Innovaccer completed an ESOP buyback worth around $75 million, while SaaS unicorn BrowserStack announced a $125 million ESOP liquidity programme. For context, ESOP buyback activity in 2025 remained muted at just over $75 million. In comparison, total ESOP buybacks, payouts, and liquidity stood at about $190 million in 2024, significantly lower than $802 million in 2023, $440 million in 2021, and $200 million in 2022.

Urban Company announces ESOP secondary sale worth Rs 203 Cr for 446 employees

EntrackrEntrackr · 1y ago
Urban Company announces ESOP secondary sale worth Rs 203 Cr for 446 employees
Medial

Home service marketplace Urban Company has announced its largest employee stock secondary sale worth Rs 203 crore (nearly $25 million). This is the fifth ESOPs buyback wherein 446 employees have participated, according to the company’s press statement. As per Urban Company, beneficiary employees are between 23 and 56 years old, with 28% of beneficiaries being women. This sale will give the company’s employees an opportunity to liquidate their vested stocks. Dharana Capital (an offshoot of existing investor Vy Capital), along with existing investors Vy Capital and Prosus will be purchasing these shares from former and current staff. To date, Urban Company has granted ESOPs to 1,593 employees and around 784 of them participated in five buybacks, liquidating ESOPs worth Rs 306 crore ($37 million). The Abhiraj Bhal Singh-led company did its last ESOP liquidity program in December 2021 at a valuation of $2.8 billion. The company did not disclose the valuation of the latest buyback. However, Entrackr’s sources outline that the fresh buyback is happening at a valuation of around $2.2 billion to $2.5 billion. Just ahead of the fourth buyback, Urban Company achieved unicorn status in June 2021. It hasn’t raised any external capital since then. According to the startup data intelligence platform TheKredible, Urban Company posted a revenue of Rs 637 crore in FY23 and managed to reduce its losses by 40.1% during the fiscal year. The buyback of ESOPs came a month after it turned profitable at PBT (profit before tax) level. On a consolidated basis in April, the company posted PBT of Rs 7 crore. Entrackr had exclusively reported the development earlier this month. The company also expects its operations in UAE to become profitable in the coming months. As per sources, Urban Company is preparing for a public listing which is likely to happen in the second half of next year (2025).

XYXX announces ESOP buyback program

EntrackrEntrackr · 1y ago
XYXX announces ESOP buyback program
Medial

Men-focused premium innerwear and lifestyle brand XYXX has announced its first Employee Stock Ownership Plan (ESOP) buyback. XYXX’s ESOP programme was introduced 4 years ago, and employees who have completed their tenure are eligible for the buyback. According to the firm, the eligible employees are allowed to liquidate at a 6X premium on the allotted price with zero strike price. XYXX’s ESOP buyback programme currently includes employees spanning from senior managers to heads of departments as well as executive leadership. The buyback comes within a year of XYXX’s $13.5 million Series C round led by Amazon Smbhav Venture Fund. XYXX claims to have pan-India presence with over 22,000 touchpoints through top Multi Brand Outlets (MBOs), a strong modern trade presence with Shoppers Stop, and Reliance Trends, amongst others as well as Exclusive Brand Outlets (EBOs) in multiple key cities. Its products are available on website (xyxxcrew.com) and available on e-commerce marketplaces including Amazon, Flipkart, Myntra and Ajio. On Monday, audio series platform Pocket FM announced its first ESOP buyback worth $8.3 million. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. In 2024, MyGate, Classplus and Meesho also completed their ESOP buyback scheme.

MyGate announces ESOP buyback for over 50 employees

EntrackrEntrackr · 1y ago
MyGate announces ESOP buyback for over 50 employees
Medial

Community management app MyGate has announced employees stock buyback program for more than 50 employees. The buyback has come on the back of improved financial results for the Bengaluru-based company in the last and current fiscal year. MyGate has announced the buyback plan of 20% of vested shares for employees who have completed four years at the firm. “We are in the strongest financial position that we have ever been and well capitalised to fuel our growth and new initiatives,” said Abhishek Kumar, co-founder of MyGate. MyGate grew without raising venture capital money for nearly four years. The firm’s operating revenue jumped 77.3% to Rs 71.10 crore in FY23 from Rs 40.1 crore in FY22. During the period, it managed to cut losses to the tune of 35%. The company primarily generates income through subscription revenue from resident welfare associations and from brands promoting themselves on the MyGate app. The firm also said that it achieved zero cash burn in November 2023. MyGate raised $56 million in a Series B round in October 2019. Later, it raised strategic money worth $12 million from home service marketplace Urban Company and insurance provider Acko in November 2022. Entrackr exclusively reported the development. While the number of ESOP buybacks saw a downward trend in 2023, the amount of buyback and payout created a new record in the last year. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity in 2023 stood at nearly $802 million. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. Last month, edtech company Classplus announced ESOP buyback for more than 150 employees.

Meesho announces its largest ESOP buyback worth Rs 200 Cr

EntrackrEntrackr · 1y ago
Meesho announces its largest ESOP buyback worth Rs 200 Cr
Medial

Meesho has announced the initiation of an employee stock ownership plan (ESOP) buyback program of Rs 200 crore (approximately $25 million), making it the company’s largest ESOP buyback pool to date. This marks the fourth buyback at the horizontal e-commerce unicorn. The company bought back shares worth $1 million in February 2020, $5 million in November 2020 and $5.5 million in October 2021. The new buyback will benefit around 1,700 past as well as present employees across junior-level executives to senior leadership. Meesho provides small businesses, which includes SMBs, MSMEs and individual entrepreneurs, access to millions of customers, selection from over 30 categories, pan-India logistics, payment services and customer support capabilities. The Vidit Aatrey-led company recently announced the launch of Valmo, a full fledged logistics marketplace that allows the network of micro-entrepreneurs to become Meesho logistics partners. In July 2023, Meesho claimed that it was the first horizontal Indian e-commerce company to turn profitable. Since announcing profitability in July 2023, the company continues to remain profitable and cash flow positive. The company also cut its losses in FY23 by 48% but its revenue spiked 77% year-on-year to Rs 5,735 crore in the last fiscal year. Recently, community management app MyGate rolled out employee stock buyback program for more than 50 employees. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively.

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