IPO-bound Swiggy grants $271 million Esops to founder Sriharsha Majety, top management

Food and grocery delivery company Swiggy that would soon launch its initial public offering (IPO) granted employee stock options worth $271 million to its founders and top management under its latest stock-based compensation plan rolled out in April this year, the company’s pre-listing prospectus showed. 

Nearly $200 million of this stock has been granted to the Bengaluru-based company’s founder and group chief executive officer, Sriharsha Majety. The rest was awarded to cofounders Nandan Reddy and Phani Kishan Addepalli, chief financial officer Rahul Bothra, chief technology officer Madhusudhan Rao, food marketplace CEO Rohit Kapoor, and newly appointed CEO of Swiggy Instamart, Amitesh Jha.