Ex-Flipkart Leaders Seek ESOP Buyback From Walmart Amid IPO Delays

7 Oct 2026, 6:54 pm · 10h ago · 1 min read · Inc42

Former Flipkart executives, including former CEO Mukesh Bansal, former CFO Sanjay Baweja, and former chief business officer Ankit Nagori, have written to Walmart's board demanding a complete ESOP buyback exit. The executives cited uncertainty surrounding Flipkart's public listing plans, seeking fair treatment for options granted 10 to 15 years ago. Walmart recently executed a second ESOP buyback tranche in July at a $38.2 billion valuation, allowing employees to liquidate up to 5% of their vested shares. Walmart stated it is reviewing the request while maintaining that an IPO remains on its strategic roadmap.