Ex-Flipkart staff seek stock option exit amid IPO delay
Former employees of the Flipkart group have approached the boards of Walmart and Flipkart, seeking an exit for their vested employee stock options (Esops) amid repeated delays to the company’s proposed initial public offering (IPO).
About 1,000 former employees of Flipkart, Myntra, Cleartrip, Shopsy, Super Money and ANS Commerce have sent a representation dated October 10 to the two boards, seeking inclusion in the group’s Esop buyback, people aware of the matter said. The group aims to bring together 20,000-30,000 former employees. The representation seeks a dialogue with the company’s management before the terms of the buyback are finalised.
