Business briefs 2

Fintech company Razorpay on Wednesday said it has implemented its second ESOP buyback plan for employees, under which all existing and former employees will be eligible to sell up to 30 per cent of their vested ESOP shares. Sequoia India and Ribbit Capital, two of Razorpay’s key investors will be the buyers at a premium, a statement said.

Over 400 employees will be eligible to participate in the initiative, it added. "At Razorpay, it is important for us to ensure that our employees also grow along with the company and the ESOP Buyback model is a form of wealth creation for all the employees... By encouraging all our former and existing team members to participate in this plan, it's our small gesture of giving back to the people who have trusted us in this journey," Razorpay co-founder and CEO Harshil Mathur said.

* * * * Wipro announces 5G collaboration with Telecom Infra Project

* IT services major Wipro on Wednesday said it will work within the Telecom Infra Project (TIP) to drive 5G adoption in the global communications service provider and enterprise markets. Launched in February 2016, TIP was started with the goal to accelerate the pace of innovation in the telecom industry.

Wipro's work within TIP will promote collaboration between Wipro's 5G strategic initiative, academia and industry thought leaders across communications and Network Equipment Providers (NEP) industries worldwide, a statement said.