Swiggy Allots 1.28 Cr Shares Under ESOP Scheme

Listed foodtech major Swiggy’s board has approved an allotment of 1.28 Cr equity shares under its employee stock option plan (ESOP).

As per the company’s regulatory filing yesterday, its board approved the allotment of 1,28,96,462 equity shares under the Swiggy Employees Stock Option Plan 2024 to its eligible employees.

The shares are being allotted at a face value of INR 1, while the exercise price for the allotted shares also stood at INR 1 per share.

As per the stock’s closing price yesterday, the newly allotted equity shares are worth INR 443.31 Cr (around $52 Mn).

Swiggy’s stock has been volatile in the morning trade. Shares were marginally up at INR 344.65 apiece on the BSE, as of 09:37 AM, compared to its last close of INR 343.75 per share.

(The story will be updated soon.)

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