Swiggy announces $65 million ESOP buyback ahead of IPO

IPO-bound food and delivery major Swiggy has announced its plan to buy back stocks worth up to $65 million (₹R543.5 crore) granted under its Employee Stock Ownership Plan (ESOP).

Swiggy’s co-founders, Sriharsha Majety and Nandan Reddy, along with other employees of the food delivery company will sell some shares in the company’s upcoming employee stock ownership plan (ESOP) liquidity event programme.