Fintech unicorn Razorpay has announced the allocation of employee stock ownership plans (ESOPs) worth Rs 1 lakh for all of its over 3,000 employees. The announcement was made amid the company’s 10th year anniversary, where the fintech company decided to reward its employees or ‘Razors’ as they are referred to.Â
Razorpay co-founder and CEO Harshil Mathur said that the move to allocate ESOPs is the company’s way of ensuring that every teammate gets to share the success of the company as they continue, simplify money movement and create greater value for businesses in India and beyond.Â
Shashank Kumar, Co-founder and Managing Director, said that it is the company’s long-term thinking and value creation that drove to reward the team’s hard work by granting ESOPs to all employees.Â
This is Razorpay’s third such employee liquidity event. In 2018, it allowed 140 employees to liquidate their vested shares, and in 2022 a larger $75-million buyback benefited 650 employees.
With an employee base of at least 3,000, and ESOPs of Rs 1 lakh each, Razorpay’s offer translates to an ESOP value of Rs 30 crore. Razorpay said that it is uncommon for companies to take on such an initiative at such a large scale, and for many employees this marks their first ESOPs.
Meanwhile the company has reportedly initiated the process of relocating its headquarters to India from the US. Mathur told Times of India that it made logical sense for them to list in the market where people know them. He said even though flipping comes with significant costs, they feel it is worth it.Â
The company is aiming to go public in 2026.Â