Bengaluru, Agencies: About 1,000 former employees of Flipkart and its group companies have approached the boards of Walmart and Flipkart seeking clarity on the ecommerce company’s long-awaited initial public offering (IPO), as uncertainty over the listing timeline leaves the value of their vested employee stock options locked up, according to people familiar with the matter.
According to a report published by Business Standard, a collective representation, dated October 10 and addressed to the boards of Walmart Inc. and Flipkart, said former employees of Flipkart and its group companies are seeking liquidity for their vested employee stock options.
The document, titled “Liquidity for Vested Employee Stock Options,” lists over 500 signatures within 24 hours of circulation. The representation includes former employees of Flipkart, Myntra, Cleartrip, Shopsy, Supermoney and ANS.
The move follows an earlier communication to Walmart from former senior Flipkart executives, including ex-Myntra CEO Mukesh Bansal, former chief business officer Ankit Nagori, former chief technology officers Amod Malviya and Ravi Garikipati, former chief people officer Mekin Maheshwari and former vice-president Anuj Chowdhary, seeking fair treatment for their vested employee stock options.
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