Atlys, a visa processing platform, has announced its first ESOP buyback worth Rs 4 crore, offering liquidity to eligible employees.
Under the programme, employees were given the option to liquidate up to 25% of their vested stock options.
The buyback was open across roles and functions.
The company also introduced an option for employees to increase their long-term ownership.
Founded in 2021 by Mohak Nahta, Atlys provides a digital platform for visa applications across more than 120 destinations.
The development follows Atlys' recent $36 million Series C round led by Susquehanna Asia Venture Capital, with participation from Elevation Capital, Peak XV Partners, Long Journey Ventures, and MakeMyTrip.
The company is currently operating at an annual visa run rate of over 700,000 and has expanded into markets including the UAE, US, UK, and Australia.
In the first quarter of 2026, more than half a dozen of startups, including BrowserStack, Innovaccer, Unacademy, and CoinDCX, announced buybacks worth nearly $220 million in total.