Swiggy’s IPO Debut Makes 500 Employees Crorepatis
The IPO was a financial game-changer for Swiggy’s employees with a massive ₹9,000 crore payout
Swiggy’s typically low-profile CEO, Sriharsha Majety, made headlines with a rare public appearance at the National Stock Exchange in Mumbai for the company’s long-awaited IPO. Majety, known for avoiding the public eye, joined Swiggy’s leadership team at the ceremonial bell-ringing, marking a pivotal achievement for the quick-commerce giant.
The IPO is not just a corporate milestone but a financial game-changer for Swiggy’s employees. Thanks to Swiggy's Employee Stock Option Plan (ESOP), around 500 employees are set to become crorepatis, with a massive ₹9,000 crore payout — one of the largest in India’s startup history. Total number of employees that will benefits through ESOPs are 5,000.
Reflecting on Swiggy’s journey, Majety shared that the company’s roots trace back to his days at IIM Calcutta, where the original idea for Swiggy was conceived. He called its current scale "an absolute miracle" and expressed deep appreciation for his team’s contributions to Swiggy’s success.
The IPO event, marked by Majety’s unexpected public participation, signifies Swiggy’s evolution from a food delivery startup to a formidable force in India's quick-commerce landscape. This transition not only underscores Swiggy’s market dominance but also its dedication to employee welfare, with a record-breaking ESOP that emphasizes the company's commitment to sharing success with its workforce.
