Foodtech major Swiggy on Friday expanded its employee stock option plan (ESOP), approving a grant of 38.86 lakh shares to eligible employees of the company and its subsidiaries.
Based on the closing price of the company’s shares on BSE at Rs 385.15 apiece, the grant is worth about Rs 150 crore.
According to stock exchange filings, the board approved the allotment of 38.86 lakh shares with a face value of Re 1 each at an exercise price of Re 1 per stock option.
The stock option is eligible to exercise at any time period after the vesting period till the liquidation of the company, the filing added.
This is the third instance of the company expanding its ESOP allotment this year. In April, Swiggy allotted ESOP worth Rs 124 crore, and in January, it allotted 2.61 crore shares under the scheme.
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In May, Swiggy saw its fourth quarter losses almost double, weighed down by heavy spending on its quick commerce offering, Instamart. The Sriharsha Majety-led Swiggy saw its losses widen to Rs 1,081 crore from Rs 553.6 crore in the previous year.
On a quarter-over-quarter basis, Swiggy’s losses grew 35%. The Bengaluru-based company’s operating revenue increased 45% to Rs 4,410 crore in the quarter ended March 2025, up from Rs 3,045 crore in FY24.
Most recently, the company launched a travel and lifestyle concierge app named Crew. The app, which is being selectively piloted and is currently in an invite-only stage, will target premium customers seeking conveniences while travelling or in their day-to-day lives.
The listed company that competes with Zomato has rolled out a slew of new offerings this year, including Pyng, a professional services marketplace, and Assure, a B2B app for restaurants to source supplies, competing with Zomato’s Hyperpure.
Edited by Suman Singh
