Former senior Flipkart executives, including Flipkart’s former CEO Mukesh Bansal, former CFO Sanjay Baweja and former chief business officer Ankit Nagori, have reportedly urged Walmart to buyback their vested employee stock options (ESOPs) amid uncertainty over the ecommerce major’s public listing plans. 

The group is said to have written to Walmart’s board, which includes Flipkart group CEO Kalyan Krishnamurthy, urging for a complete exit opportunity.

“This is not merely a request for goodwill. We contributed our time, effort, expertise and commitment to building the business and creating the value that exists today,” the letter read, as per a report by ET. 

Demanding a “fair treatment” towards the vested stock options granted to them 10-15 years ago, the ex-Flipkart heads argued that former employees should not be disadvantaged simply because they are no longer on Flipkart’s payroll.

The push comes months after Walmart conducted the second tranche of Flipkart’s employee stock buyback programme. The July transaction reportedly valued Flipkart at around $38.2 Bn, but eligible employees could liquidate only up to 5% of their vested options. 

A Walmart spokesperson said that the company would examine the issues raised by the former executives. “We appreciate the perspective of all employees—current and former—and value their feedback. As with anything raised, we take it seriously and look into the matter.”

“As we’ve said, an IPO remains an active part of our strategic roadmap, and we will move forward when the timing is right. Transitioning to public markets brings great opportunities, but also real operational responsibility.

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