Licious opens its first-ever ESOP buyback option worth Rs 30 crore
Licious, India’s largest tech-first full-stacked D2C (direct to consumer) fresh meat and seafood brand has opened its maiden Employee Stock Ownership Plan (ESOP) monetization option for its employees. For the first time ever, Licious said the blue-collared workforce along with other eligible employees, will be able to monetise their ESOPs.
The buyback option worth Rs 30 crore is said to benefit close to 600 employees, providing meaningful and real-time wealth creation opportunities.
Abhay Hanjura and Vivek Gupta, co-founders of Licious said over the last 6 years, Licious has been responsible for resurrecting the animal protein category and creating one of the most inspirational brands of our times.
“This journey would never have been possible without the dedication, support & expertise of the team, “ said Hanjura and Gupta. “Licians (employees) are a force to reckon with. They have stood against all odds to create India’s largest D2C food brand.”
The founders said the company has always believed in providing employees with collective ownership of the organisation’s destiny. The ESOP program enables this core belief. Earlier this year, it issued grants to more than 1100 employees, recognising their contribution to the company.
“And now it is time for us to enable the monetisation process,” said the founders. “It brings us immense pride as this is one of the largest coverages as compared to the current industry practices. We will continue to celebrate our fellow Licians as we move ahead in this journey.”
Launched in 2015, Licious has been steadily disrupting the animal protein industry in India. Over the last financial years, the company has registered a 500 per cent growth, with an average monthly order volume of two million.
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