Hygiene products maker Sirona Hygiene has rolled out its first ESOP (employee stock ownership plan) buyback worth Rs 5 crore for its employees.
The buyback will happen over two phases, said the company. The first phase will cover all long-standing members, and, in the next phase, new and remaining members will be able to surrender their shares.
“We are aiming to become a 500 crore brand in the next two years and create even more wealth for our employees and investors,” said Mohit Bajaj, Co-founder, Sirona Hygiene, in a statement.
Founded in 2014, the company manufactures products such as feminine pain relief patches, menstrual cups, period stain removers, and anti-chafing rash creams.
Sirona Co-founders Deep Bajaj and Mohit Bajaj
In 2021, Sirona raised Rs 100 crore in a Series B funding round from D2C beauty unicorn Good Glamm Group.
This ESOP buyback comes at a time when the startup ecosystem is facing a funding winter and many companies across sectors have announced layoffs.
