IPO-bound Swiggy announces fifth ESOP liquidity programme worth $65 million

IPO-bound food and grocery delivery firm Swiggy announced its fifth ESOP (employee stock ownership plan) liquidity programme on Monday. As part of this initiative, Swiggy employees across levels and functions will have the option to receive liquidity of up to $65 million for their ESOPs.

Swiggy’s co-founders, Sriharsha Majety and Nandan Reddy, along with other employees of the firm will be selling some shares in the company’s upcoming ESOP programme, according to industry sources. They are also doing this in the run-up of the firm’s initial public offering (IPO).