Swiggy offers part of $50 million ESOP buyback

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NEW DELHI: Swiggy on Monday introduced the second tranche of its two-year worker inventory possession plan (ESOP) liquidity programme as a part of which the corporate is shopping for again shares from over 2,000 eligible workers. The whole measurement of the ESOP buyback unfold by 2022 and 2023 is $50 million.

In 2021, the Bengaluru-based meals supply firm had launched a two-year ESOP liquidity programme for 2022 and 2023. Within the present yr, workers from Dineout can even have the ability to avail of the plan. Swiggy had acquired
Dineout, a eating out and restaurant tech platform from Occasions Web in a deal pegged over $100 million in Might final yr. “Two years in the past, Swiggy introduced a one-of-its sort ESOP programme. . . we’re blissful that we’re capable of maintain our dedication of sharing Swiggy’s success and progress by these wealth creation alternatives,” head of HR Girish Menon stated in an announcement.

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