StockGro executes two ESOP buyouts

StockGro, a platform for learning about trading and investments, announced that it has conducted two Employee Stock Option Plan (ESOP) buyouts between 2023 and 2024.

StockGro offered these buyouts purely to provide employees with the chance to cash in on their vested shares.

In both cases, all eligible employees were invited to participate. As per the company, less than 60% chose to sell their shares, while the rest decided to hold onto them for long-term benefits.

With a team of 70 people, StockGro claims to have distributed over $2 million to employees during these buyouts. In the most recent one, 100% of the vested shares of those who participated were bought out.

Founded in 2020 by former venture capitalist Ajay Lakhotia, the fintech startup is a social investment platform with an interactive virtual interface that enables users to learn about and participate in stock markets.

In January, StockGro had raised Rs 205 crore ($25 million)in a debt round from Trifecta Ventures and Hindustan Media Ventures in two separate tranches. 

Last week, SaaS-enabled marketplace NowPurchase completed its first-ever Employee Stock Option Plan (ESOP) buyback.  HealthKart also announced its first-ever employee ESOP buyback plan worth Rs 55 crore ($6.5 million). 

According to TheKredible’s data, more than 20 startups have implemented ESOP buyback, liquidity, and payout programs worth around $200 million in the ongoing calendar year (2024).