Moglix had recently raised USD 120 million in series E fundraise last month, entering the unicorn club (valuation of USD 1 billion).
Under its ESOP buyback programme, all eligible employees were able to sell up to 25 per cent of their vested shares during the buyback, the statement said.
“We believe ESOPs represent the ownership mindset and belief in the vision. Typically B2B and manufacturing are not seen as attractive sectors for talent. But through our ESOP programme and our work culture, we want to make it rewarding and meaningful to work in B2B,” Moglix founder and CEO Rahul Garg said.
The company wants to enable long-term wealth creation for employees and recognise their contribution and commitment, he added.
Founded in 2015, Moglix provides solutions to more than 5 lakh SMEs and 3,000 manufacturing plants across India, Singapore, the UK and UAE.
It has a supply chain network of over 16,000 suppliers and more than 35 warehouses and logistics infrastructure. The company, which also offers end-to-end supply chain operations from sourcing to financing, has a team of about 1,000 employees.
