Swiggy has announced a new round of employee stock option (ESOP) grants worth approximately Rs 150 crore, as the company continues to invest in growth and employee incentives despite widening losses.
According to a filing with the National Stock Exchange dated July 11, Swiggy issued 38.86 lakh stock options under its ESOP 2024 plan. The grant is valued based on the previous market closing price of Rs 385.15 per share.
These stock options carry an exercise price of Rs 1 each and convert into fully paid-up equity shares after vesting. Employees can exercise the options any time post-vesting until the company’s liquidation.
This comes after the company’s earlier ESOP package in April, which was valued at Rs 443.4 crore, as disclosed in a separate filing. In January, Swiggy had also approved the allotment of 2.61 crore equity shares to employees under its ESOP 2015 and ESOP 2021 plans, according to an exchange filing at that time.
Swiggy reported a net loss of Rs 1,081 crore for the January–March quarter, nearly doubling over the previous period, largely due to aggressive expansion of its quick commerce business. The company was reportedly opening close to four dark stores per day during this time.
However, the expansion strategy also boosted Swiggy’s consolidated operating revenue, which rose 45 percent year-on-year to Rs 4,410 crore in the same quarter.
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