Meesho announces its largest ESOP buyback worth Rs 200 crore

Meesho on Wednesday announced an employee stock option (Esop) buyback programme worth Rs 200 crore, its largest to date, benefitting nearly 1,700 former and current employees. 

The e-commerce firm said eligible employees across the spectrum, from junior-level executives to senior leadership can voluntarily participate in this programme.

"This underscores our commitment to rewarding our teams, and we are pleased that despite prevailing macroeconomic conditions," Ashish Kumar Singh, Meesho's CHRO, said in the blog note. 

The company had earlier done three buyback programmes worth $11.5 million. 

Backed by Meta, Peak XV, Prosus Ventures, B Capital, and SoftBank, the firm achieved profitability in July 2023.

An AllianceBernstein report puts Meesho's current Gross Merchandise Value run rate at above $5 billion.