HomeLane has launched an ESOP buyback programme worth INR 27 crore
Real Estate

HomeLane has launched an ESOP buyback programme worth INR 27 crore

HomeLane, a home interiors business, has announced an INR 27 crore ESOP (employee stock ownership plan) repurchase scheme, the company's second of its kind. It raised $50 million (INR 371 crore) in a Series E round headed by IIFL AMC's late-stage tech fund, OIJIF II (Oman India Joint Investment Fund), and current investor Stride Ventures last year.

Liquidity was available to both current and past HomeLane employees with vested ESOPs. Former employees were given the option to sell up to 100% of their stock, while current employees were given the option to liquidate up to 35% of theirs.

Less than half of active employees' ESOPs that were eligible for liquidation were liquidated. Many of the company's employees, according to the company, put their profits into homes, automobiles, and retirement savings, as well as donating to causes they care about.

“We are deeply humbled by the response of our team, with a majority of them deciding to stay vested in the company through only partial liquidation of their stock options.

Our team’s conviction and relentless efforts have powered HomeLane’s exponential growth. We facilitated the ESOP buyback to acknowledge their enduring contribution,” said Srikanth Iyer, cofounder of HomeLane. “We will continue to invest in high-quality talent across business, product and technology, design and operations, across the country. Despite the temporary resurgence of COVID-19, we are confident that the need for branded home interiors will continue to grow rapidly,” said Tanuj Choudhry, cofounder of HomeLane.

Indian firms have started an ESOP buyback trend in order to combat attrition and attract talent. Employee stock ownership plans (ESOPs) are being used by an increasing number of companies as a tool for employee retention and wealth building. Ninjacart, an Indian agritech firm, said last week that it has launched an employee stock ownership plan (ESOP) valued more than INR 100 crore.

Also Read
https://www.constructionworld.in/latest-construction-news/real-estate-news/interiors/these-exquisite-items-will-ramp-up-your-home-decor/32831
https://www.constructionworld.in/latest-construction-news/real-estate-news/interiors/give-a-design-uplift-to-your-bathrooms/33012

HomeLane, a home interiors business, has announced an INR 27 crore ESOP (employee stock ownership plan) repurchase scheme, the company's second of its kind. It raised $50 million (INR 371 crore) in a Series E round headed by IIFL AMC's late-stage tech fund, OIJIF II (Oman India Joint Investment Fund), and current investor Stride Ventures last year. Liquidity was available to both current and past HomeLane employees with vested ESOPs. Former employees were given the option to sell up to 100% of their stock, while current employees were given the option to liquidate up to 35% of theirs. Less than half of active employees' ESOPs that were eligible for liquidation were liquidated. Many of the company's employees, according to the company, put their profits into homes, automobiles, and retirement savings, as well as donating to causes they care about. “We are deeply humbled by the response of our team, with a majority of them deciding to stay vested in the company through only partial liquidation of their stock options. Our team’s conviction and relentless efforts have powered HomeLane’s exponential growth. We facilitated the ESOP buyback to acknowledge their enduring contribution,” said Srikanth Iyer, cofounder of HomeLane. “We will continue to invest in high-quality talent across business, product and technology, design and operations, across the country. Despite the temporary resurgence of COVID-19, we are confident that the need for branded home interiors will continue to grow rapidly,” said Tanuj Choudhry, cofounder of HomeLane. Indian firms have started an ESOP buyback trend in order to combat attrition and attract talent. Employee stock ownership plans (ESOPs) are being used by an increasing number of companies as a tool for employee retention and wealth building. Ninjacart, an Indian agritech firm, said last week that it has launched an employee stock ownership plan (ESOP) valued more than INR 100 crore.Also Read https://www.constructionworld.in/latest-construction-news/real-estate-news/interiors/these-exquisite-items-will-ramp-up-your-home-decor/32831 https://www.constructionworld.in/latest-construction-news/real-estate-news/interiors/give-a-design-uplift-to-your-bathrooms/33012

Next Story
Real Estate

The Only Way is Up!

In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation a..

Next Story
Building Material

Organisations valuing gender diversity achieve higher profitability

The building materials industry is projected to grow by 8-12 per cent over the next five years. How is Aparna Enterprises positioning itself to leverage this momentum and solidify its market presence?The Indian construction and building materials industry is projected to witness significant expansion, with estimates suggesting an 8-12 per cent compound annual growth rate (CAGR) over the next five years. This growth is fuelled by rapid urbanisation, increased infrastructure investments and sustainability-focused policies. With India's real-estate market expected to reach $ 1 trillion by 2030, t..

Next Story
Real Estate

Dealing with Delays

Delays have beleaguered many a construction project in India, hampering the country from building to its ability and potential, and leading to additional costs incurred by the contractor. The reasons for delayIn India, delays mainly occur owing to obtaining statutory approvals, non-provisioning of right of way, utility diversion and approval of drawings and design. Delays are broadly classified based on responsibility and effect. Excusable delays arise from factors beyond the contractor’s control, such as force majeure events or employer-induced delays. These delays generally entitle th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?