Homelane completes Rs 27 crore ESOP buyback for employees

Homelane completes Rs 27 crore ESOP buyback for employees

Home interiors company Homelane has announced a buyback of its Employee Stock Option Scheme (ESOP) of Rs. 27 crore, said in a statement issued today.
This is the second time that Esops has been bought back by the company. The round was initiated as part of its recent Series E investment led by IIFL AMC’s Late Stage Tech Fund, OIJIF II (Oman India Joint Investment Fund) and Stride Ventures.

Homelane provided liquidity to everyone who had vested ESOPs, including active and former employees. Ex-employees were offered 100% liquidity, while active employees had the option to exercise up to 35% of their vested ESOPs. However, active employees liquidated less than 50% of their eligible ESOPs. Proceeds from the sale have helped enable employees to buy homes and cars, invest in retirement funds, and donate to causes they feel strongly about.

“We are very pleased with the response of our team, most of them having decided to remain vested in the company through only partial liquidation of their stock options. The firm belief and tireless efforts of our team have fueled our exponential growth. We facilitated ESOP buybacks to acknowledge their enduring contribution; Shrikant Iyer and Tanuj Choudhary, Co-Founders, Homelane, said, “This is our way of expressing our gratitude by supporting them in their wealth creation journey.
“As one of India’s largest and fastest growing home interior brands, we will continue to invest in high quality talent in business, product and technology, design and operations across the country. The temporary resurgence of COVID-19 Despite this, we are confident that the need for branded home interiors will continue to grow rapidly.”

Homelane currently provides services in 19 cities across the country through 34 experience centers.



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