New Delhi. With the launch of Swiggy, an online platform that provides the facility of ordering food from hotels, in the stock market on Wednesday, more than 500 current and former employees of the company have joined the list of 'crorepatis'.
People associated with the matter said that Swiggy has allotted shares worth Rs 9,000 crore to 5,000 employees under the Employee Share Ownership Plan (ESOP) at the upper issue price limit of Rs 390 per share. Employees will benefit from the company's listing in the market and increase in share price. The company had kept the price range for the IPO at Rs 371 to Rs 390 per share.
Shares worth Rs 9,000 crore have been given to 5,000 former and current employees under the ESOP scheme. At the upper limit of the price band (Rs 390), 500 out of 5,000 employees have joined the list of crorepatis. Swiggy's shares were listed at Rs 420 on Wednesday, up 7.69% from the issue price of Rs 390.
Abhishek.Verma@edelman.com
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