Foodtech major Swiggy has distributed value shares under its representative stock ownership plan (ESOP) and the board stock ownership plan (MSOP) to its employees and top executives individually.
According to Swiggy’s regulatory filings, it has designated ESOP Equity shares worth Rs 132.5 crore to 180 employees. With an ESOP assignment worth Rs 31.2 crore, the organization’s CFO Rahul Bothra is the greatest recipient of the ESOP program followed by Anuj Rathi (SVP, income and development) who got Rs 20.4 crore worth ESOP.
Phani Kishan Addepalli, who was as of late raised as prime supporter of Swiggy and named as CEO of Supr Daily, has gotten ESOPs amounting to Rs 8.3 crore.
The remaining Rs 72.6 crore worth ESOP has been assigned to 177 employees of the organization. Critically, the organization has allocated all the above-expressed ESOP shares at an activity cost of Re 1 for every offer in particular.
In a different filing, Swiggy has additionally designated MSOP value shares worth Rs 196.4 crore to its fellow benefactor and CEO Sriharsh Majety.
The improvement comes before long the declaration of an association wide ESOP liquidity program for 2022 and 2023 by Swiggy. According to the SoftBank-upheld organization, the new liquidity program is probably going to be esteemed at up to $35-40 million (Rs 260-295 crore) and the figure will increase in line with the organization’s valuation.
Swiggy was esteemed at $5.6 billion during its most recent gather pledges of $1.25 billion in July this year. In the interim, it is gearing up for one more round that might push its valuation closer to $10 billion.
This is the second portion of value shares under ESOP conspire by the Bengaluru-based organization. In April, it had distributed 500 value shares worth Rs 11.8 crore ( each offer being 236,000) to the leadership group including previous COO Vivek Sunder, CTO Dale Vaz, CFO Rahul Bothra and HR head Girish Menon Swiggy. In June, Sunder had continued on from Swiggy and after 90 days, he joined edtech startup Cuemath as CEO.
