Kochi: Axio Biosolutions, a medical tech company headquartered in Bengaluru under Malayali entrepreneur Leo Maveli, rolled out a grand presentation to the employees. According to the Employees Stock Option Plan (ESOP), the company rendered Rs 3.75 crore in lieu of the shares of the staff in the company. Axio Biosolutions aims to buyback shares through this. 

The revenue for buyback was set aside from the funding worth Rs 45 crore earned by the company last year. 

40- 50 per cent among the total number of 140 staff had already obtained shares of the company under the ESOP. Axio Biosolutions has reserved 7 per cent of the shares of the company for employees. 

It has been the second time that the company is offering a buyback option for the employees. When the investors bought the shares from the employees two years back, the latter had received Rs 7 crore then. 

The distribution of shares and buyback options among the staff is usually rare in Medtech companies. The founder and CEO of Axio Biosolutions, Leo Maveli, said that these endowments show the company’s gratitude towards the employees.