Dezerv completes Rs 46 Cr ESOP buyback
Dezerv, established in April 2021 by former IIFL Wealth Senior Managing Partners, aims to provide affluent Indians with expert-led investment solutions.
Wealth-tech startup Dezerv on Wednesday said it has concluded its Employee Stock Ownership Plan (ESOP) buyback programme, facilitating the liquidation of vested stock worth up to Rs 46 crore ($5.3 million) for eligible current and former employees.
While the buyback aimed to give early employees an opportunity to create liquidity through their ESOPs, the company said employees largely wanted to remain invested.
"We remain committed to delivering the highest quality investment experience to India's wealth creators. A crucial part of ensuring this is the motivation and alignment of the team with our values. This ESOP buyback is one among many such aspects of our culture," said Sandeep Jethwani, Co-founder of Dezerv, in a statement.
ESOPs are company-granted stock options that allow employees to own a stake in the business, typically vested over time. Companies offer ESOPs to attract and retain talent, align employees' interests with long-term growth, and provide financial incentives tied to the company’s performance.
Dezerv, established in April 2021 by former IIFL Wealth Senior Managing Partners—Sandeep Jethwani, Vaibhav Porwal, and Sahil Contractor—aims to provide affluent Indians with expert-led investment solutions. In December, the company crossed Rs 10,000 crore in assets under management.
The company, with a team of 300 professionals and offices in Mumbai, Delhi, Bengaluru, Hyderabad, and Pune, provides wealth management services to high-net-worth individuals, including professionals from companies such as Amazon, Zomato, Swiggy, Google, BCG, and McKinsey.
Edited by Suman Singh