Swiggy Grants Fresh ESOPs Worth INR 443.4 Cr to Employees Under 2024 Plan Each of these stock options is convertible into equity shares.
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Food delivery and quick-commerce platform Swiggy Limited has announced the grant of fresh employee stock options (ESOPs) under its newly introduced Employee Stock Option Plan 2024.
According to a regulatory filing with the National Stock Exchange (NSE) on Monday, the company's Nomination and Remuneration Committee approved a circular resolution to allocate 1.28 crore (12,896,462) ESOPs to eligible employees.
Each of these stock options is convertible into equity shares. Based on Swiggy's current market valuation, the new ESOPs are valued at INR 443.4 crore (approximately USD 52 million), signalling the company's continued push to reward and retain top talent amid a competitive hiring landscape.
This move comes just three months after Swiggy had allotted 2.61 crore shares under various ESOP schemes, raising its paid-up equity capital to INR 2.26 crore from INR 2.23 crore.
In parallel with its employee-centric initiatives, Swiggy recently infused INR 1,000 crore into its subsidiary Scootsy Logistics, which contributed a significant 42% to its total revenue in the previous quarter.
While Swiggy is yet to release its Q4 FY25 results, the company posted a 31% year-on-year growth in Q3 FY25, reaching INR 3,993 crore in revenue, albeit with a 39.2% rise in losses to INR 799 crore.
Swiggy's shares closed at INR 343.85 on Monday, valuing the company at INR 78,620 crore (USD 9 billion), despite hitting a 52-week low of INR 306.95 on April 7.
