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Bengaluru-based startup StockGro completes second ESOP buyout worth $2 Mn
Category: Business News, Posted on: 04/12/2024
, Posted By:
Ishika Agarwal
Visitor Count:
92
Founded in 2020 by former venture capitalist Ajay Lakhotia, StockGro aims to foster investment literacy through an interactive platform that combines education with simulated trading. The platform serves a diverse user base spanning Tier I to Tier III cities and generates revenue primarily through a subscription model, offering courses in technical analysis priced between Rs 5,000 and Rs 72,000.
StockGro, a Bengaluru-based investment education and trading simulation platform, has conducted two Employee Stock Option Plan (ESOP) buyouts between 2023 and 2024, benefiting its employees with significant financial rewards. The fintech startup distributed over $2 million to eligible employees during these buyouts, with less than 60% choosing to sell their vested shares while the rest retained them. In the secondary transaction StockGro has strategically opted for secondary transactions to enable employee wealth realization. In its latest ESOP buyout, the startup achieved a 100% buyout of vested shares from participants. StockGro has capitalized on recent regulatory shifts, such as the Securities and Exchange Board of India's measures to regulate options trading volumes. These changes have driven more users towards equity investments, resulting in a 20-30% increase in user activity in the past quarter, according to Lakhotia. Additionally, StockGro has extended its educational outreach through collaborations with the Bombay Stock Exchange and workshops for Zomato's delivery staff, enhancing financial literacy at grassroots levels.
Disclaimer: The content of the blog does not create any responsibility of the firm / its authorized persons whose website is being accessed. The blog is not for legal use. Kindly verify the correctness of data/contents from your own sources. This is only for information purpose.
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