Food delivery and instant commerce player, Swiggy, said its employees will have the option to receive liquidity of up to $23 million against its Employee Stock Ownership Scheme (ESOP) – as a part of a two-year liquidity program it offers. First milestone.

This time more than 900 people will be eligible to participate. The next round of ESOP Liquidity will take place in July 2023 and is expected to have over 1,800 qualified employees.

“Rewarding employees by creating wealth opportunities is one of our priorities. We are delighted to see the wealth created for employees from the recent Esop Liquidity event,” said Girish Menon, Head of Human Resources, Swiggy,

Announced in October 2021The program was valued at $35-40 million at Swiggy’s valuation of $5.5 billion after a $1.25 billion funding in July. The value of stock options will increase along with the valuation of the company. swiggy was
It is valued at $10.7 billion after fundraising of $700 million In January this year.

The Sriharsha Majety-led company has also launched a new program called “Build Your Own Dollar (BYOD)” under which Swiggy employees can choose to invest swiggy esops,

Earlier, ESOPs were offered to employees above a certain grade or on the basis of their performance. The company said that the BYOD program is now open to all permanent employees of Swiggy.

“Taking this further, we are delighted to offer all employees the opportunity to own Swiggy Esops through our BYOD program. We are committed to enabling every employee to potentially benefit from their growth and success,” said Menon.

Swiggy did its first share buyback in June 2018.
While the second in November 2020 In the range of $7-9 million was commissioned through secondary sales.

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