The Vivriti Group announced the closure of its first employee stock option plan (ESOP) liquidity programme, aimed at providing an opportunity to its team members for wealth creation.
The Chennai-based finance company claims to manage a diverse portfolio of over 250 mid-market enterprises across various sectors with a combined $730 million assets under management. It has two divisions Vivriti Capital, a technology-enabled lender registered with the Reserve Bank of India as a non-deposit taking non banking finance company (NBFC) and Vivriti Asset Management, a fixed income fund manager, whose alternate investment funds are registered with the Securities and Exchange Bureau of India (SEBI).
While around 50 per cent of the 225-strong team participated in the offer, the remaining opted to hold on to their exercised shares to build more value. As a result, 47 team members received liquidity at the conclusion of the ESOP Liquidity Programme, resulting in Rs 50 crore of wealth creation.
Vivriti's maiden ESOP Liquidity Programme will shorten the wait of ESOP holders and ensure that the team participates in the company's growth faster. The organisation also believes tha the programme will result in higher employee engagement and retention.
Vineet Sukumar, founder, and chief executive officer of Vivriti Group said, “We are probably the first amongst much larger lending fintechs, NBFCs and asset managers to provide ESOP liquidity as a possibility. We aimed to democratise wealth creation for our team and recognise their passion, client centricity and performance. Our team members are an integral part of Vivriti’s journey to becoming India’s largest mid-market lender and asset manager.”