STAGE completes INR 4.2 crore ESOP liquidity event for eight early employees

New Delhi: STAGE, in partnership with HISSA Fund, has completed a liquidity event worth INR 4.2 crore, allowing eight early employees to cash out a portion of their ESOPs after six years with the regional OTT platform.

For the employees involved, the buyback was more than a routine financial transaction. Several had joined STAGE when the idea of building a premium OTT platform for Haryanvi, Rajasthani, and Bhojpuri content was in its early stages.

Junaid and Kunal, founding team members who have been with STAGE since its inception, were among those who sold a portion of their vested ESOPs.

"I used the money to pay off my home loan," said Junaid. "In the Indian context, fully owning the house where your family sleeps means something. Six years ago, I took a risk when I decided to back my founders. Today, that bet has paid for my home."

Kunal said his first move was simpler, "I gave it to my mother. Watching her face when she saw the amount credited, I'll remember this moment for a long time."

Rohit Deshmukh, Product Manager at STAGE, described the buyback as proof of the company’s ownership culture. "I've worked at places where 'ownership culture' is a slide in an all-hands deck. Here, I got ESOPs on day one. Now I've cashed a portion of them out. That's the difference between talking about ownership and actually doing it."

The liquidity event comes as STAGE grows to over six million paying subscribers, making it one of India’s largest regional language OTT platforms. The company plans to expand into Marathi and Gujarati markets in 2026.

Vinay Singhal, Co-Founder of STAGE, said, "As a founder, this is one of the most satisfying milestones. The people who believed in us when we had nothing now have something real to show for it. That's how it should work."

Satish Mugulavalli, Managing Partner at HISSA Fund, noted the significance for early employees. "Early employees at high-growth companies often wait years for any liquidity. We are proud to help STAGE's team realise returns while the company is still scaling."