Jaro Education Founder, Dr Sanjay Salunkhe Announces ESOP Buyback

MUMBAI:
Dr Sanjay Salunkhe – Founder, Jaro Education, a leading ed-tech firm offering world-class executive education for working professionals, has announced share buyback issued through its Employee Stock Option Plan (ESOP).

The company issued shares to its key employees in 2018 at a rate of Rs. 50/- per share. Now founder Dr Salunkhe offers to buy back those shares at Rs. 250/- per share by providing the employees 400% return on their investment. However, the option to sell shares will be at the discretion of their employees, and they will have all the rights to continue their shareholding with the company.

In FY 2021-2022, the company expects EBITDA to increase by 300%; and revenue by 150%; the company’s employee headcount has increased by 100%. The company is now planning to roll out its 2nd ESOP scheme by the end of March 2022, in which the ESOPs will be issued even to its new employees so that they can feel highly motivated and form an integral part of the Jaro family.

Dr Sanjay Salunkhe highlighted, “Great organizations always ensure that they make room for the learning and growth of new employees. This step will result in employees going the extra mile.”

CEO Ranjita Raman added, “Jaro Education values the commitment & hard work put in by its team members and truly believes in growing together and sharing the prosperity. That is the unified approach within our system, which has successfully managed to stand the test of time & deliver exceptional results. The company expects a large number of employees to benefit from the rollout of the second ESOP scheme.”