Swiggy Limited, a food delivery and e-commerce platform, announced new employee stock options for qualified staff members under its Employee Stock Option Plan 2024 on Monday.
According to a statement Swiggy filed with the National Stock Exchange (NSE), the Nomination and Remuneration Committee approved a circular resolution to award 12,896,462 ESOPs (Employee Stock Options) to its staff.
Each stock option will be converted into an equity share in accordance with the filings. The freshly granted ESOPs are worth Rs 443.4 crore, or around $52 million, based on Swiggy's current market price.
Three months have passed since 2.61 crore shares were distributed under various ESOP schemes. Additionally, the paid-up equity share capital of the company rose from Rs. 2.23 crore to Rs 2.26 crore.
Swiggy recently made an expansion investment of Rs. 1,000 crore in Scootsy Logistics, a subsidiary. In the prior quarter, 42 percent of Swiggy's total revenue came from Scootsy Logistics.
Swiggy has not yet submitted its Q4 FY25 financial statements for the final quarter of the previous fiscal year. The company reported a 31 percent year-over-year increase to Rs. 3,993 crore in Q3 FY25 from Rs. 3049 crore in Q3 FY24. Swiggy's losses increased 39.2 percent to Rs. 799 crore during the same time period as a result of its growth-oriented strategy.
