• Company completes Rs 50 crore ESOP buyback using internal cash reserves
• Around 180 employees receive payouts averaging Rs 25-35 lakh
• Move follows strong revenue growth and recent unicorn funding

Stockbroking and investment platform Dhan has completed a company-led ESOP buyback worth nearly Rs 50 crore, providing liquidity to around 180 employees. The buyback was fully funded through the company’s internal reserves, highlighting its sustained profitability over the last few years.

According to people aware of the development, Dhan has been profitable for the past three years, which enabled it to conduct the ESOP buyback without external funding. Employees who participated in the liquidity event reportedly received payouts averaging between Rs 25 lakh and Rs 35 lakh, though the final amount varied based on individual ESOP holdings and tenure. While there were minor differences, most payouts broadly fell within this range.

Founded in 2021 by former Paytm Money executive Pravin Jadhav and his team, Dhan positions itself as a technology-first platform catering to active traders and Gen Z investors. Industry observers note that within just four years of inception, the company has been able to offer meaningful liquidity to employees, something Jadhav was unable to realize during his tenure at Paytm Money.

Dhan declined to comment on the specifics of the ESOP buyback.

The liquidity event follows a strong financial performance in FY25. The company reportedly posted revenue of around Rs 900 crore during the year, marking a sharp rise from the previous fiscal while remaining cash-flow positive, according to sources familiar with its financials.

Also Read: DSA Holding Plans $2 Billion Push Into India's Quantum, Deep-Tech Space

This development also comes shortly after Dhan raised over $120 million in a Series B funding round led by Hornbill Capital in October. The round valued the company at nearly $1.2 billion, making it a unicorn, and included secondary exits for early investors. Some angel investors, including Cred founder Kunal Shah and members of the PhonePe founding network, reportedly saw returns as high as 45X.

Analysts say company-led ESOP buybacks like this signal confidence in long-term growth, especially amid rising competition from platforms such as Zerodha, Groww, and Angel One.

Read More News :

Kuku FM Revenue Jumps to Rs 242 Crore in FY25 as Marketing Spend Soars

DSA Holding Plans $2 Billion Push Into India's Quantum, Deep-Tech Space