Unacademy has rolled out a ₹50 crore Employee Stock Ownership Plan (ESOP) buyback, creating an opportunity for both present and former employees to monetise their stock options. The initiative was approved by the company’s board, with Co-founder Gaurav Munjal confirming that a dedicated cash reserve has been set aside for the programme, despite the company currently being valued below its previous funding round.
As per internal estimates shared by Munjal, eight employees are likely to receive payouts exceeding ₹1 crore each. Around 17 team members could realise more than ₹50 lakh, while nearly 38 employees may earn upwards of ₹10 lakh through the buyback. The company is expected to reach out to eligible participants in the coming weeks with detailed instructions on the process.
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In a related development, Unacademy recently provided a one-time 30-day window allowing former employees to exercise their vested stock options. However, the company clarified that its present valuation stands lower than earlier rounds and that preference shareholders retain priority over equity shareholders in payout structures.
The buyback comes at a time when Unacademy is recalibrating its growth strategy amid ongoing shifts in the edtech landscape following the pandemic-era boom. As part of its restructuring efforts, the company plans to transition from operating company-owned offline centres to adopting a franchise-led model, aiming to optimise costs and strengthen margins.
Earlier discussions around a potential acquisition by upGrad did not materialise, reportedly due to differences in valuation expectations.
