New Delhi, Feb 14 (PTI) Global data analytics and engineering firm TheMathCompany has rolled out an ESOP buyback programme, valued at Rs 93.2 crore, to reward its employees for their commitment, long-term association, and contribution to the company.
The co-founders will continue to hold the majority stake in the company as the organisation continues to grow, it said in a statement.
The value of the total buyback programme this year stands at Rs 93.2 crore where over 20 per cent of the existing workforce currently holds employee stock options or ESOPs.
TheMathCompany said it has “recently announced an ESOP buy-back programme to reward its employees for their hard work, long-term association, and contribution to building the company.” Early this year, TheMathCompany had secured funding of USD 50 million from Brighton Park Capital, a private equity firm that specialises in collaborating with growth-stage software, healthcare, and tech-enabled service businesses.
TheMathCompany further informed it has continued to grow during the pandemic and aims to double the current employee count by hiring over 1,000 people across various functions in this fiscal year.
“ESOPs form a critical part of the employee value proposition, where more than 20 per cent of our workforce currently holds them. We are delighted to offer our employees an avenue for wealth creation through the buy-back program,” Sayandeb Banerjee, Co-Founder and CEO, of TheMathCompany said.
The company will continue to offer ESOPs to employees with high potential across the organization, irrespective of seniority and role, he observed.
Founded in 2016 by Sayandeb Banerjee, Aditya Kumbakonam and Anuj Krishna, the company has over 1,000 data scientists, data engineers, and visualisation experts. It represents and partners with over 50 Fortune 500 customers across the retail, pharma, automotive, technology, manufacturing and other industries in the US, the UK, and the European Union. PTI MBI RUJ RUJ
