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Netcore Reinforces Employee-Centricity with ESOP Buyback Plan

Netcore Solutions Private Limited announced the completion of an Employee Stock Ownership Plan (ESOP) buyback for its past and existing employees.

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Netcore Solutions Private Limited announced the completion of an Employee Stock Ownership Plan (ESOP) buyback for its past and existing employees.

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Employees were given the opportunity to encash a major portion of their stock options. This buyback exercise has been a welcome wealth creation opportunity for Netcore employees, boosting personal liquidity and employee

morale.

The buyback saw a return of up to 250 times for employees, depending on the price at which they were given the options. In a parallel exercise, Netcore’s holding company also completed a buyback scheme of shares held by current and ex-employees.

This extremely rare buyback scheme, particularly in the SaaS space, has delivered one of the largest returns ever seen in the history of private companies in India.

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It also reinforces Netcore’s stance on employees being equal stakeholders in Netcore’s evolving growth story.

Kalpit Jain, Group CEO of Netcore Solutions, stated, “Netcore has built a unique growth model centered around 3 elements: profitable growth, long-term focus, and extreme employee-centricity.

These three aspects have enabled us to create a high-growth, high-performance organization that has consistently delivered exceptional value to all our stakeholders, including our employees. “

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Added Kalpit, “Being profitable for the past 10 years, Netcore is 25% owned by its employees. While every company has to be customer-centric to thrive, there are few that are employee-centric at this scale – both in terms of ownership in the company and delivering wealth creation.

We aim to continue to grow our email and marketing automation business globally by 30-40% in the years to come, thus continuing to deliver high returns to our employees.”

He concluded by saying “Netcore is driven by long-term objectives and exhibits an ‘infinite mindset’, a concept underscored by management guru, Simon Sinek.”

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