NEW DELHI: Food ordering and delivery platform Swiggy on Wednesday said all its employees holding employee stock ownership plans (ESOPs) will be eligible to participate in the two liquidity events over the next two years.
On the back of company's food delivery business surpassing pre-Covid levels, non-food businesses like Instamart and Supr Daily witnessing robust growth, and the latest fundraise of USD 1.25 billion, the company has decided to institute a programme to enable consistent wealth creation for employees through two distinct liquidity events in the next two years, Swiggy said in a statement.
"This is an industry-first initiative whereby we are democratising wealth creation by enabling all our ESOP holding employees to participate in our committed liquidity events in 2022 and 2023," Swiggy, Head of HR, Girish Menon, said.
More importantly, by giving them visibility on the ESOP liquidity, the employees hold the option and flexibility to plan their cash flow and investments, he added.
These will be the third (in July 2022) and fourth (in July 2023) such liquidity events by the company. The first was in June 2018 and the second was in November 2020, the statement said.