E-commerce company Meesho has announced an employee stock option (ESOP) buyback program worth Rs 200 crore.
The company said the stock buyback program is its largest to date and will include 1,700 employees, both current and former employees. The company added that eligible current and former employees, ranging from junior-level executives to senior executives, can voluntarily participate in the program.
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This is the fourth share buyback by Meesho, and the scale is increasing every year. The company conducted stock buybacks worth $1 million in February 2020, $5 million in November 2020, and $5.5 million in October 2021.
“At Meesho, our employees are the driving force behind our success and we are pleased to announce our largest-ever ESOP buyback program. This confirms our commitment to rewarding our team. I am pleased that despite the prevailing macroeconomic conditions, we are continuing to provide wealth creation opportunities and foster a culture of growth within our organization,” said Meesho's Chief Operating Officer ( said Ashish Kumar Singh, CHRO.
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Also read: Meesho expects business growth with 14 million customer transactions in 2023
The announcement comes several months after Meesho returned to profitability in July 2023. The company has since said it has been profitable and cash flow positive, although its profit after tax (PAT) remains in the single digits.
Meesho's operating revenue increased to Rs 5,735 crore in FY23 from Rs 3,232 crore in FY22. Its losses halved from Rs 3,251 crore in FY22 to Rs 1,675 crore in FY23. Admittedly, Meesho is yet to submit the final results to the Ministry of Corporate Affairs.
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