Employees who are part of ESOP or employee stock option plan programmes across the Flipkart group, including Myntra and PhonePe, were informed of the move through an email. Flipkart Group CEO Binny Bansal said the differential grant was being made, so that the total dollar value of options allotted to an employee remain unchanged.
This was being done to ensure that the employee's equity stake in the company stayed at a steady level.
"As an organisation, Flipkart takes immense pride in being the employer of choice for thousands of professionals - a vaulted status that only comes with a deep, company-wide sense of transparency and fairness. If Flipkart does well, so should you," Mr Bansal said.
In recent years, Indian start-ups have increasingly offered ESOPs as a way to curb attrition and help employees build long-term wealth.
The eventual windfall, however, hinges on whether the company is able to list publicly, or if it buys back the shares.