Food delivery and quick-commerce platform Swiggy Limited on Monday announced fresh employee stock options under its Employee Stock Option Plan 2024 for eligible employees.
The Nomination and Remuneration Committee passed a circular resolution to grant 12,896,462 ESOPs (Employee Stock Options) to its employees, according to a disclosure filed by Swiggy with the National Stock Exchange (NSE).
As per the filings, each stock option will be converted into an equity share. Based on Swiggy’s current market valuation, the newly granted ESOPs are valued at Rs 443.4 crore, or approximately $52 million.
The development comes three months after it allotted 2.61 crore shares under various ESOP schemes. The company’s paid-up equity share capital also increased to Rs 2.26 crore from Rs 2.23 crore.
Recently, Swiggy invested Rs 1,000 crore in its subsidiary Scootsy Logistics for expansion. Scootsy Logistics contributed 42% of Swiggy’s overall revenue in the previous quarter.
Swiggy has yet to file its financial results for the last quarter of the last fiscal year (Q4 FY25). During the Q3 FY25, the company recorded a 31% year-on-year growth to Rs 3,993 crore, compared to Rs 3049 crore in Q3 FY24. In the pursuit of growth, the losses for Swiggy grew 39.2% to Rs 799 crore in the same period.
After today’s trading session, Swiggy’s stock closed at Rs 343.85 per share, bringing its total market capitalization to Rs 78,620 crore (around $9 billion). Amid recent market volatility, the company also hit an all-time low of Rs 306.95 on April 7.