Licious opens maiden ESOP buyback

Fresh meat and seafood brand Licious has opened its maiden Employee Stock Ownership Plan (ESOP) monetisation option worth Rs30 crore that is expected to benefit close to 600 of its staff members.

Last month, the tech-enabled platform had raised $192 million from a clutch of investors, including Temasek. "With this buyback event, Licious sets yet another unique benchmark in the industry. For the first time ever, the blue-collared workforce along with other eligible employees will be able to monetise their ESOPs," a statement said on Thursday. The buyback option worth Rs 30 crore is set to benefit close to 600 employees, it added. "Over the last six 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 and expertise of the team. Licians (employees) are a force to reckon with! They have stood against all odds to create India's largest D2C food brand," Licious co-founder Vivek Gupta said.

Licious co-founder Abhay Hanjura added that earlier this year, the company issued grants to more than 1,100 employees, recognising their contribution to the company. "And now it is time for us to enable the monetisation process. 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," he added. Launched in 2015, Licious has witnessed significant growth and has served more than two million customers across 14 Indian cities.