Swiggy, a top food delivery site in India, has said it will give out 2.61 crore shares through its employee stock plans (ESOPs). This step is to reward and motivate workers who meet the rules.
On 25 January, Swiggy stated, “We have agreed to give out 2,61,93,411 shares under Swiggy ESOP Plan 2015 and 2021 after some workers used their options.”
More shares available
After this new share giveout, Swiggy’s paid-up share capital grew from ₹2.23 crore to ₹2.26 crore. The firm has rolled out three ESOP plans so far, launched in 2015, 2021, and most recently in 2024. Together, these plans make up a pool of nearly 230 million shares.
ESOP worth goes up
Swiggy’s latest share price is ₹448.85 each, making the total ESOP value a big ₹1,171 crore. This shows how much the firm cares about sharing wealth with its staff and pushing them as they help the firm grow.
ESOPs: A new trend for start-ups
ESOPs became more common with big IT firms like Infosys, but now many internet firms are also using them. Start-ups often give ESOPs to their founders and top staff, especially before they go public. These plans help more workers gain wealth and build loyalty.
Swiggy joins others in offering buybacks
Swiggy is joining a list of new firms that have done ESOP buybacks lately. Others on this list include Meesho, Purplle, Urban Company, Whatfix, Pocket FM, Dehaat, and MyGate. These moves make workers happier and help these firms look good as places to work in the busy start-up world.
Swiggy’s action shows its forward-thinking plan and highlights how much it values its workers as key parts of its success.
