Exclusive: Livspace executes share buyback worth $9.5 Mn

Omnichannel home interior and renovation platform Livspace, which recently turned unicorn, has executed a share buyback program primarily from its top-level executives.

Livspace has passed a special resolution to approve the buyback of 15,670 equity shares from 5 shareholders which represent 6.06% of the total number of issued and fully paid-up equity shares of the company, the company’s regulatory filings in Singapore shows.

Livspace was valued at around $1.2 billion following a $180 million Series F round led by KKR & Co in February this year. Right before the Series F infusion, the company had also increased its ESOP pool to $40 million and MSOP pool to $55 million.

As per Fintrackr’s estimates, the buyback is worth around Rs 72.2 crore or $9.5 million.

The company’s co-founder Shagufta Anurag has become the biggest beneficiary of this buyback by tendering shares worth Rs 53.02 crore. The company’s chief business officer Saurabh Jain realised Rs 7.5 crore through the buyback. Pay Later Partners, Ramakant Sharma (co-founder of Livspace) and Shweta Mishra have sold shares worth Rs 5.2 crore, Rs 3.7 crore and Rs 3.01 crore respectively.

Notably, Livspace’s co-founder and CEO Anuj Srivastava has not participated in the buyback program.

Further, the company also executed secondary transactions in which Guneet Singh Kawatra sold his shares worth Rs 1.01 crore to Malacca Global and Saurabh Jain sold his shares worth Rs 1.74 crore to TPG Growth.

Livspace has become the second startup in its growth stage to conduct a share buyback program in recent times. Earlier this week, online investment platform Upstox had executed a share buyback plan worth around $4 million from its founders and employees.

Currently present in 28 cities in India, Livspace generates about 79% of its revenue from India and the remaining from Singapore.