On-demand food delivery platform Swiggy, India’s has announced its fifth ESOP liquidity programme of upto USD 65 million.
The development comes at a time when the market is abuzz about Swiggy‘s proposed USD 1.25 billion initial public offering.
“As part of this employee-friendly initiative, Swiggy employees across levels and functions will have the option to receive liquidity of up to USD 65 million for their ESOPs,” Swiggy said in a statement.
This is the fifth liquidity event for Swiggy since 2018, and the third consecutive event after July 2022 and 2023, making it one of the few start-ups to consistently enable wealth-creation opportunities for its employees, it said.
So far, the company has cumulatively enabled over Rs 1000 crore of ESOPs liquidity over the five events, benefitting over 3200 employees.
“Rewarding employees by unlocking wealth-creation opportunities as Swiggy grows has always been a key priority for us,” Girish Menon, Head of HR at Swiggy, said.
He further stated that 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.
“As we approach the milestone of a decade for Swiggy, the latest ESOP event is an acknowledgement of our employees’ contributions, and our commitment to sharing Swiggy’s success and growth with them,” Menon added.
