Plum Announces ESOP Buyback Programme Worth Rs 15 Crore
Plum, a platform focused on employee health benefits, has introduced its first-ever ESOP buyback programme valued at Rs 15 crore, aimed at providing liquidity for both current and former employees. Located in Bengaluru, the company stated that this initiative will include 199 individuals, made up of 73 current employees and 126 former employees, who hold stock options that were vested as of March 31, 2026. Eligible employees will be able to sell up to 25% of their vested ESOPs.
Significant Benefits for Employees
As per Plum’s announcement, it is anticipated that 17 employees will receive payouts exceeding Rs 20 lakh. The programme also extends to past interns and early team members who had been granted stock options during Plum’s initial stages. The company expressed that this initiative is designed to reward those who have played a vital role in its development, converting long-term ownership into actual financial rewards. Current employees will benefit from receiving full fair market value for their vested stock options, without incurring any exercise cost or discount.
Recent Funding and Industry Context
This announcement comes nearly three months after Plum secured $20.5 million in a Series B funding round led by Peak XV Partners. Existing investor Tanglin Venture Partners has also increased its stake in the firm, while GMO VenturePartners has become a new investor. This fresh capital was raised after almost five years, following a Series A round where Plum raised $15.6 million from Tiger Global in 2021.
Trends in ESOP Buybacks
Plum joins an increasing number of startups offering liquidity to employees through ESOP buybacks this year. According to research conducted by Startup Superb, nine startups have collectively repurchased ESOPs valued at over $220 million in 2026 alone. This list features notable names such as BrowserStack, Innovaccer, CoinDCX, Unacademy, Tractor Junction, Emversity, Cashfree Payments, and Kratikal.
About Plum
Founded in 2019 by Abhishek Poddar and Saurabh Arora, Plum specializes in employee health insurance and benefits solutions for businesses. The startup claims to support more than 6,000 organisations and cover over 600,000 employees throughout India.