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“We Are Planning A Buyback Every Year”- Nithin Kamath, CEO, Zerodha On 200 Cr ESOP

“Last year around the same time we announced a buyback when we were at a Billon Dollar valuation.” – Nithin Kamath Zerodha

It is speculated that online brokerage platform Zerodha is planning an ESOP buyback amounting to approximately Rs 200 Crore in July. Speaking to BW Businessworld, Nithin Kamath confirms,“We haven’t really finalized what we will be buying back, but 200 Crores is the approximate amount. We did it last year as well at a Billion dollar valuation and we are doing it again this year.”

Speaking about the magic number of Rs 200 Crores, Kamath notes, “We have a valuation of $2Billion dollars, so we are doing a buyback of 200 Crores.” He further adds, “Last year around the same time we announced a buyback when we were at a Billon Dollar valuation.” The buyback is open only for the employees of the company, which is close to 850 people. It will give employees the option to sell up to 33% of their employee stock ownership plans (ESOPs).

The online brokerage platform has been bootstrapped since its inception in 2010 and never sought external funding. The company is valued at Rs. 1000 crore for in the fiscal year 2021, making a Rs 442 crore profit.  

Source: Business World

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