Swiggy IPO: Company Grants ESOPs Worth $270 Million to CEO Sriharsha Majety, Other Executives

Food delivery platform Swiggy has granted $270 million (nearly Rs 2,240 crore) worth of stock options to its senior leadership ahead of its anticipated initial public offering (IPO), according to the company’s pre-listing prospectus. According to Swiggy’s updated draft red herring prospectus, the company’s founder and CEO Sriharsha Majety has received a significant amount of the Employees Stock Ownership Plan (ESOP) worth $200 million of stock options.

The ESOPs will raise Majety’s stake in Swiggy from 6.23 per cent to about 8.43-8.73 per cent. He will offload his equity shares worth $7.5 million in Swiggy in the upcoming IPO.