Archive · 12 Oct 2026
Former Flipkart Employees Seek Exit From Options Amid IPO Delays
Some people who used to work for Flipkart have stock options, which may let them own part of the company.
They want to be included in a plan that would let employees sell some of those options.
About 1,000 former workers reportedly sent a request to Flipkart and Walmart on October 10.
The organizers hope to bring together 20,000 to 30,000 former workers.
They say they do not know when Flipkart will go public, so they may have to wait years to sell their options.
Current employees were allowed to sell some options in a buyback, but former employees were not included.
Flipkart says an IPO remains part of its plans, but it has not given a date.
Reports differ on whether Walmart gave a response about the former workers’ request.
A representation dated October 10 seeks a dialogue with Flipkart and Walmart and inclusion of former employees in an ESOP buyback.
About 1,000 former employees have reportedly sent the representation; organizers hope to bring together 20,000–30,000 former staff.
Former employees say the unclear IPO timeline could leave them waiting years to realize the value of their vested options.
Current employees were allowed to sell some vested options in a $50 million buyback in July; former employees were excluded.
Reports differ on Walmart’s response: one says it made no specific commitment, while another says Walmart did not respond to queries.
- Who
- Former employees of Flipkart and group companies, seeking inclusion in an ESOP buyback from Flipkart and Walmart.
- What
- They have submitted a representation requesting dialogue and an exit for their vested stock options.
- When
- The representation was dated October 10; a letter from former senior executives to Walmart’s board was dated October 1.
- Where
- The request concerns Flipkart and its group companies in India.
- Why
- Former employees say the lack of a clear IPO timeline could leave them waiting years to realize the value of their vested options.
Former employees
Flipkart and Walmart
Access to vested options
Former employees
Former employees want to be included in an option buyback and seek dialogue before its terms are finalized; they say the uncertain IPO timeline could keep them waiting years.
Flipkart and Walmart
Flipkart says an IPO remains part of its strategic roadmap and that it will proceed when the company is ready. The reports provide no clear commitment to a separate exit for former employees.
Walmart’s response
Former employees
Former employees are seeking a way to realize the value of their options while they await an IPO.
Flipkart and Walmart
One report says Walmart’s legal counsel said former employees would be considered as part of liquidity in an IPO, without specifying a commitment; another says Walmart did not respond to queries. Walmart also told Bloomberg it takes feedback from current and former employees seriously.
- Representation
- Dated October 10 and reportedly sent by about 1,000 former employees
- Organizers’ aim
- Bring together 20,000–30,000 former employees
- Group companies named
- Flipkart, Myntra, Cleartrip, Shopsy, Super Money and ANS Commerce
- Current-employee buyback
- A $50 million round in July allowed eligible current employees to sell up to 5% of their vested options
- Potential future buyback
- Flipkart was reportedly considering a buyback for current employees between January and March 2027
- Options held
- Current and former employees together reportedly hold options worth about $4 billion; former employees account for roughly half
- IPO position
- Flipkart says an IPO remains part of its strategic roadmap but has not announced a listing date
