Unacademy launches Rs 50 crore ESOP pool months after reversing 30-day exercise window move over backlash

Edtech firm Unacademy has announced a Rs 50 crore employee stock ownership plan (ESOP) buyback programme, a move aimed at providing liquidity to current and former employees just two months after the company drew sharp criticism, and ultimately reversed its decision to slash its ESOP exercise window from 10 years to 30 days.

Co-founder and CEO Gaurav Munjal announced the buyback on X on Thursday, stating that eight employees stand to earn over Rs 1 crore each from the programme. 17 employees are expected to receive upwards of Rs 50 lakh, while 38 are likely to make more than Rs 10 lakh. The company will reach out to eligible participants over the coming weeks.