The Housing.com CEO said yesterday that he will distribute all his personal shares in the company to the firm’s 2000+ employees. A person familiar with the situation said that no time frame has yet been announced for the handover.
The announcement was made in an internal company town hall held in Mumbai. Media reports suggest that the stocks are worth around Rs 150-200 crore. It is not yet known what the company board’s, which consists of some of the investors in the company, stand on the matter is.
Over the past few months, Yadav has been courting controversy from public spats to the recent resignation and following U-turn.
Rahul Yadav's U-turn adds more drama to Housing controversy
The company’s investors include Nexus Venture Partners, SoftBank Group, Helion Venture Partners, among others.