Bizongo concludes maiden ESOP buyback worth USD 3.7 mn

Business-to-business e-commerce and supply chain enablement platform Bizongo has announced the completion of its first employee stock ownership plan (ESOP) buyback programme worth USD 3.7 million.

While 102 of Bizongo's former and current employees were eligible for the buyback, only 70 per cent of employees opted to liquidate ESOPs from the pool worth USD 4.8 million, the company said in a statement.

''Bizongo concludes maiden buyback, liquidates ESOP worth USD 3.7 million,'' the company said.

ESOPs have been a part of the company's talent welfare program strategy from the beginning and given across all levels of employees at different stages of their tenure with the company in the form of joining bonuses or annual bonuses and rewards, it added.