Agritech platform DeHaat completes first ESOP buyback worth Rs 10 Cr
DeHaat has issued ESOPs worth over Rs 100 crore to more than 200 individuals so far and 153 employees participated in its first ESOP buyback programme.
Business-to-farmer (B2F) agritech platform has completed its first Employee Stock Ownership Plan (ESOP) buyback worth Rs 10 crore.
"The ESOP buyback programme demonstrates our dedication to our employees, and we are glad to generate wealth creation opportunities and foster a culture of growth inside the firm," said Shashank Kumar, Co-founder and CEO, DeHaat.
DeHaat said its revenue from operations increased by 40% to Rs 2,700 crore and losses reduced by 50% in FY24. Its growth was driven by high-margin businesses like the export of sustainably grown farm produce, food processing and sale of biological Ag-Inputs, according to a statement.
The company aims to achieve full-year profitability during FY25.
According to DeHaat, it has issued ESOPs worth over Rs 100 crore to more than 200 individuals so far. In its first ESOP buyback, 153 members from across the various ranks—ranging from Senior Vice President to field teams—got a chance for wealth creation.
The company recently onboarded agri industry veteran Dr K V Subbarao as its first independent advisor and signed Bollywood actor Pankaj Tripathi as its brand endorser for the parent brand its farmer services.
DeHaat offers services such as direct market access, quality inputs, and expert agri advisory, which helps farmers improve their income and achieve financial security.
According to the company, it currently operates in 12 Indian agrarian states and serves over 1.8 million farmers.
Edited by Affirunisa Kankudti