Fintech unicorn Razorpay has announced allotment of Employee Stock Ownership Plans (ESOPs) worth Rs 1 lakh for all its 3,000+ employees. The announcement was made in the middle of the company’s 10th anniversary, where the fintech company decided to reward its employees or ‘Navalles’ as they are called.

Razorpay co-founder and CEO Harshil Mathur said the move to allot ESOPs is the company’s way of ensuring all teammates share in the company’s success as they continue , simplify the movement of money and create greater value for businesses in India and beyond.

Shashank Kumar, co-founder and managing director, said the company’s long-term thinking and value creation drove rewarding the team’s hard work by granting ESOPs to all employees.

This is Razorpay’s third employee liquidity event. In 2018, it allowed 140 employees to liquidate their vested shares, and in 2022 a larger buyback of $75 million benefited 650 employees.

With an employee base of at least 3,000 and ESOPs of Rs 1 lakh each, Razorpay’s offer translates into an ESOP value of Rs 30 crore. Razorpay said it’s rare for companies to take on such an initiative on such a large scale, and for many employees this marks their first ESOPs.

Meanwhile, the company has reportedly started the process of shifting its headquarters to India from the US. Mathur told the Times of India that it made logical sense for them to list in the market where people knew them. He said that while the flip comes with significant costs, they believe it is worth it.

The company aims to go public in 2026.