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Compensation|Employment
2 min. Read
|Jul 16, 2025 2:03 PM

Amid Expansion, Swiggy Rolls Out ₹150 Crore ESOPs for Staff

Sahiba Sharma
By Sahiba Sharma
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Foodtech and quick commerce giant Swiggy has announced a fresh round of employee stock option (ESOP) grants worth ₹150 crore under its ESOP 2024 plan.

According to filings with the National Stock Exchange (NSE), the company has issued 38.86 lakh stock options priced at ₹1 per share, which will convert into fully paid-up equity shares upon vesting.

This latest grant follows two earlier ESOP allotments in January and April 2025, valued at ₹443.4 crore and ₹124 crore respectively, making it Swiggy’s third ESOP issuance this year.

Inclusive Ownership Across Roles at Swiggy

Swiggy’s ESOP initiative extends to employees at all levels, including:

  • Delivery personnel
  • Technology teams
  • Corporate staff

By offering equity as part of compensation, Swiggy aims to boost employee engagement, reduce attrition, and align workforce incentives with the company’s broader business goals.

Employees can exercise their options anytime after the vesting period, up until the company’s liquidation, providing flexibility and long-term value potential.

Financial Context: Growth Amid Losses

The ESOP rollout comes amid Swiggy’s aggressive expansion in quick commerce, particularly through its Instamart vertical, which added nearly four dark stores per day during Q1 FY26.

Despite this push, Swiggy’s net loss nearly doubled to ₹1,081 crore, up from ₹553.6 crore in the previous year.

However, its operating revenue surged 45% year-on-year to ₹4,410 crore, reflecting strong growth momentum.

Strategic Vision of Swiggy and Future Outlook

Swiggy’s leadership views ESOPs as a strategic tool to foster a culture of shared success and ownership.

The company is also exploring new verticals, including:

  • Crew – a travel and lifestyle concierge app
  • Pyng – a professional services marketplace
  • Assure – a B2B supply platform for restaurants

These initiatives, coupled with the ESOP plan, signal Swiggy’s intent to retain top talent, drive innovation, and prepare for a potential public listing.

ESOPs as a Retention Lever in India’s Startup Ecosystem

Swiggy’s move mirrors a broader trend in India’s startup ecosystem, where ESOPs are increasingly used to retain high-performing talent, especially in competitive sectors like foodtech, logistics, and e-commerce.

The company’s ESOP framework also complements other employee-focused benefits such as:

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