BENGALURU: Grocery and food delivery platform Swiggy on Thursday announced that its employees will have the option to receive liquidity of up to $23 million against their ESOPs (employee stock option programme).
It is said that about 900 employees are eligible for this. This buyback option is part of the company’s planned ESOP liquidity programme in 2022. The food delivery firm has announced the next round of liquidity in July 2023. “This enables employees holding ESOPs to create wealth alongside the growth and success of the brand,” Swiggy said, which employs nearly 5,000 people.
The grocery and food delivery platform has rolled out a new programme, Build Your Own Dollar (BYOD), wherein Swiggy employees across the company can choose to invest in Swiggy ESOPs.
ESOPs were earlier offered to staff above a certain grade and/or based on performance.
The BYOD programme is now open to all permanent employees of Swiggy. “Rewarding staff by creating wealth opportunities is one of our priorities at Swiggy,” said Girish Menon, head of HR at Swiggy. Founded in 2014, Swiggy connects consumers to over 2 lakh restaurant partners and stores in over 500 cities. Its grocery service Instamart is present in 29 cities.