Flipkart has sold a minimal stake of Rs 180-240 Crore from its employee trust funds to High Networth Individuals (HNIs).
The move allows Flipkart’s employees to monetize the stock— an option that couldn’t be possible without stock listing.
The development came after Flipkart posted a three-fold increase in revenue for this fiscal year.
“The employee trust is a structure to facilitate employee liquidity across all levels depending on the amount of vested options. This is a repeatable structure and we do intend to use it as we go along at least on an annual basis,” said a spokesperson from Flipkart. [Source]
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