Swiggy's IPO Debut Setting Record by Making 500 Employees "Crorepatis"

Today India’s leading food delivery giant, Swiggy has debuted on the National Stock Exchange (NSE) creating history as its IPO will distribute a whopping ₹9,000 crore among 5,000 long-serving employees.

Swiggy is providing a huge winning opportunity for the staff from delivery agents to senior leaders. The company is supposedly creating about 500 new millionaires, making it a grand employee wealth-creation event in the Indian startup sector.

What is an ESOP and How Does it Benefit Employees?

An Employee Stock Ownership Plan (ESOP) is a program that allows employees to own a stake in the company they work for. In the case of Swiggy, the company has allocated Rs 9,000 crore in ESOPs for its employees, providing them with a valuable opportunity to share in the company's success and growth. This not only motivates employees to work towards the company's success but also rewards their hard work and dedication.

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Who Stands to Gain the Most from Swiggy's IPO?

According to reports, the founders and senior executives of Swiggy hold ESOPs worth about Rs 2,600 crore, highlighting the company's commitment to rewarding its leadership. Founder and CEO Sriharsha Majety, along with other key executives are expected to benefit significantly from the listing of the IPO, further solidifying their financial standing.

What to Expect from Swiggy's IPO?

With an IPO valuation of Rs 11,300 crore, Swiggy is turning out to be the biggest tech IPO since Paytm in 2019. The strong demand for the IPO subscribed 3.59 times, indicates a high level of investor interest in the company's prospects.

How Will the IPO Impact Swiggy's Employees?

The surge in Swiggy's ESOP value is expected to benefit about 500 employees, who are likely to join the "crorepati" club as a result of the IPO. The IPO promises substantial returns for employee shareholders, further incentivizing them to work towards the company's growth and success.

More than a financial event, this is a celebration of Swiggy’s culture that when teams thrive, the company rises.

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