Swiggy Launches Fifth ESOP For Employees Worth Rs 540 Crore

Swiggy announced on Monday its fifth ESOP (employee stock options) liquidity programme, offering employees at various levels and functions the opportunity to access liquidity amounting to $65 million (approximately Rs 540 crore).

This marks the on-demand convenience platform's fifth liquidity event since 2018, and the third consecutive one following those in July 2022 and 2023, according to a company statement.

"So far, the company has cumulatively enabled over Rs 1,000 crore of ESOPs liquidity over the five events, benefitting over 3,200 employees," it said.

Girish Menon, head of human resources at Swiggy, said that the recent ESOP event recognises employees' contributions and underscores Swiggy's dedication to sharing its success and growth with them as the company approaches its nearly decade-long operational milestone.

"Employees owning shares of their company creates alignment of incentives and a sharp focus on collaborative excellence, which is a virtuous cycle that we believe in and espouse," Menon said.

(With Inputs From PTI)