Swiggy rolls out two-year ESOP plan worth $40 million

Swiggy on Wednesday announced a new plan for its employees to tender their stock options worth $30-40 million over two years based on its current valuation of $5.5 billion.

The Bengaluru-based food delivery platform has set July 2022 and July 2023, respectively, as the timeline for the liquidity events, with all employees holding stock options or Esops eligible to participate.

A company spokesperson said a decision has yet to be taken on whether the Esops would be bought back by Swiggy or it would be a secondary purchase of shares by an investor.

The total value of the upcoming liquidity events will be based on the company’s valuation at that time, the spokesperson added.