Akshata Sharma
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Swiggy announced its plan to buy back stocks worth up to $65 million (Rs 543.5 crore) granted under its ESOP as it gears up for an IPO.
This is the fifth ESOP liquidity programme undertaken by Sriharsha M.-led Swiggy. It rolled out its second ESOP in July 2023 worth nearly $27-30 million (Rs 225.8 crore to Rs 250.9 crore) which is likely to benefit nearly 2,000 employees.
It had also launched a committed two-year ESOP liquidity programme for employees in October 2021.
It has confidentially filed for a $1.2 billion (Rs 10,400 crore) IPO with the SEBI and plans to raise up to Rs 3,750 crore in fresh capital.
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