Innovaccer announces Rs 600 Cr ESOP buyback

Healthtech company Innovaccer has completed an ESOP buyback worth Rs 600 crore, around $75 million, providing liquidity to current and former employees holding vested stock options.

According to an Inc42 report, an undisclosed number of current and former employees holding restricted stock units benefited from the ESOP buyback.

The buyback follows Innovaccer’s $275 million Series F funding round, which included both primary and secondary capital and saw participation from investors such as B Capital, Kaiser Permanente, and Generation Investment Management.

Founded in 2014, Innovaccer operates a healthcare data and analytics platform that enables hospitals, health systems, and insurers to unify clinical and operational data. The company has built a strong presence in the US healthcare market and works closely with provider networks and payers.

For the fiscal year ended March 2025, Innovaccer reported operating revenue of Rs 387.71 crore and a profit of Rs 36.1 crore.

Over the past year, the company led by Abhinav Shashank also acquired two companies, Cured and Pharmacy Quality Solutions, to strengthen its capabilities.

The buyback comes shortly after SaaS unicorn BrowserStack announced a $125 million ESOP liquidity programme. For context, ESOP buyback activity in 2025 remained muted at just over $75 million. In comparison, total ESOP buybacks, payouts, and liquidity stood at about $190 million in 2024, significantly lower than $802 million in 2023, $440 million in 2021, and $200 million in 2022.