Awign Rolls Out Its First ESOP Buyback Worth INR 4 Crore

India’s largest on-demand work fulfillment platform, Awign has today announced its first employee stock option plan (ESOP) and buyback programme worth INR 4 crores. Under this programme, eligible employees will be able to participate in this ESOP buyback and liquidate their part of vested stock in the company. 

ESOPs or employee stock ownership plans are an add-on benefit that provide employees ownership in the company in the form of stocks. With this ESOP buyback programme, Awign aims to attract, retain and create value for employees by recognising their contribution towards the organization. Employees, both past and present will be given the option to liquidate a portion of their stock to drive wealth creation.

The initiative follows after the company’s recent Series B fundraise of $15 million from Bertelsmann Investments India, Amicus Capital, MyNavi Corporation, along with existing investors. It has raised a total of ~22.3 million USD as of date.

Speaking on the same, Annanya Sarthak, Co-Founder & CEO, Awign said “Since we started, we have been focused on building a relationship of trust, loyalty, and ownership with all employees. In the last year itself, our team has enabled 10X growth in revenues. With this ESOP buyback program, we take another step to reward our employees, and build shared ownership and value for them. We are committed to leverage ESOPs as an instrumental tool for driving wealth creation for our employees, along with attracting talent to build the next gen of innovators and leaders at Awign.”

The company plans to double the employee strength by the end of 2023, adding talent from organizations to build an experienced and culturally rich world-class team. With this ESOP programme, Awign takes another step forward to build a culture which empowers freedom and ownership for employees within the organization.