Archive · 7 Oct 2026
Former Flipkart Executives Seek Fair ESOP Treatment Ahead of IPO
Some former Flipkart leaders have asked Walmart to let them sell their vested company shares or options.
They say those shares were part of the pay they earned while helping build Flipkart.
They argue that leaving the company should not stop them from getting a chance to cash in.
Their letter went to Walmart’s chairman and board on October 1.
A report says a planned share buyback could involve ₹38,000 crore for more than 30,000 current and former employees.
The former leaders say they want fair treatment, not special treatment.
Flipkart’s IPO date has not been set.
Walmart and Flipkart say an IPO is still part of the plan, when the timing is right.
At least eight former Flipkart senior executives reportedly asked Walmart’s board for fair treatment of their vested employee stock options.
Their letter, dated October 1, says former employees should not be excluded from liquidity opportunities because they no longer work for the company.
The report says more than 30,000 current and former employees could receive ₹38,000 crore from planned ESOP buybacks, with nearly half going to former workers.
Some former employees have held options granted between 2008 and 2016, according to the report.
Walmart and Flipkart said a public listing remains on the company’s strategic roadmap and will happen “when the timing is right.”
- Who
- At least eight former Flipkart executives and senior employees; Walmart and Flipkart.
- What
- Former employees reportedly asked Walmart’s board for a complete exit opportunity for eligible holders of vested options.
- When
- The letter was dated October 1; no year is specified in the article.
- Where
- The request was sent to Walmart’s chairman and board; the companies’ IPO plans concern Flipkart.
- Why
- The former employees say their vested options were compensation for work building Flipkart and that they should not be excluded from liquidity opportunities because they left.
Former employees
Walmart and Flipkart
Access to liquidity
Former employees
Former employees say eligible holders of vested options should receive a complete exit opportunity and should not be excluded just because they no longer work for Flipkart.
Walmart and Flipkart
The companies’ reported response did not directly address the former employees’ request. They said a public listing remains part of the strategic roadmap and will happen when the timing is right.
IPO timing
Former employees
The former employees say the IPO timeline is uncertain, making access to an exit opportunity important for holders of vested options.
Walmart and Flipkart
Walmart and Flipkart say a public listing remains planned, but that it will take place when the timing is right.
- Letter date
- October 1; the year is not specified.
- Reported signatories
- At least eight former CXOs and senior executives.
- Potential buyback amount
- ₹38,000 crore, according to the report.
- Potential beneficiaries
- More than 30,000 current and former Flipkart employees, according to the report.
- Former employees’ share
- The report says almost half of the potential buyback amount would go to former workers.
- IPO status
- The timeline is uncertain; Walmart and Flipkart say a listing will happen when the timing is right.
- Options cited
- Some former employees reportedly received options between 2008 and 2016.