Flipkart employees are set to receive a one-time cash payout from a $700 million employee stock option plan (ESOP) buyback. The buyback is part of the separation of Flipkart and PhonePe, which was announced in December 2022.

The payout will be made to eligible former and current employees of Flipkart and Myntra, who hold ESOPs in Flipkart. The amount of the payout will be based on the number of ESOPs held.

The buyback is a significant event for Flipkart employees, as it provides them with a financial windfall. It is also a sign of the company’s commitment to its employees.

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The split of Flipkart and PhonePe is a major event in the Indian tech industry. The two companies have been closely linked since Flipkart acquired PhonePe in 2016. However, the split is seen as a way for both companies to focus on their respective strengths.

Flipkart is the leading e-commerce platform in India, while PhonePe is the leading payments app. The split will allow Flipkart to focus on its core e-commerce business, while PhonePe can focus on its payments business.

The split is also seen as a way for Flipkart to raise more capital. The company is reportedly planning to go public in the next few years. The split will allow Flipkart to separate its e-commerce business from its payments business, which will make it more attractive to investors.

The Flipkart-PhonePe split is a significant event in the Indian tech industry. It is a sign of the maturity of the Indian tech ecosystem, and it is a sign that Indian tech companies are now ready to take on the world.