Around 500 Swiggy employees are set to earn ₹1 crore each when the company goes public on November 13, as part of its IPO, one of the largest in recent years. In total, the IPO will distribute ₹9,000 crore to 5,000 employees, many of whom have been with the company for several years and contributed to its growth. The 500 crorepatis are part of this broader group benefiting from the company’s ESOP payout.
Swiggy’s upcoming employee stock option (ESOP) payout is set to be one of the largest in India’s startup ecosystem, marking a significant milestone in wealth creation for its employees. With the company’s IPO, 5,000 staff members, many of whom have been with Swiggy for several years, stand to receive a combined ₹9,000 crore, including 500 employees expected to earn ₹1 crore each. This places Swiggy alongside Flipkart, which previously set a benchmark for ESOP payouts in the Indian startup scene. Flipkart’s wealth distribution to employees has been substantial, with a recent payout of ₹5,800 crore ($700 million) to 17,000 current and former employees in July 2023, and a total of over ₹12,000 crore ($1.4-1.5 billion) in five share buybacks over the years. While other startups have implemented ESOPs, the scale of payouts from Flipkart and Swiggy is exceptional, reflecting their prominence in India’s tech and startup landscape.
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