Swiggy, India’s leading on-demand convenience platform, has announced a significant milestone in its committed two-year employee stock ownership plan (ESOP) liquidity program, the company unveiled the initiation of the second tranche of the program, enabling employees to receive liquidity totaling up to $50 million against their ESOPs.

As part of this visionary ESOP liquidity program, eligible Swiggy employees will have the opportunity to benefit from the liquidity program, strengthening their financial position. The program is a testament to Swiggy’s commitment to empowering and rewarding its workforce, recognizing them as the company’s most valuable asset.

In addition to Swiggy’s employees, eligible employees from Dineout, which was acquired by Swiggy last year, will also participate in this milestone event. The seamless integration of Dineout has further solidified Swiggy’s position in Q-commerce with the successful launch of Instamart.

Girish Menon, Head of Human Resources at Swiggy, stated, “Our team is Swiggy’s most valuable asset, and we are happy that, despite challenging macroeconomic conditions, we’re able to keep our commitment of sharing Swiggy’s success and growth through these wealth creation opportunities.”

Swiggy’s financial achievements have been remarkable, with the company announcing turning earnings before interest, taxes, depreciation, and amortization (EBITDA) positive in its food delivery business as of March 2023. This financial strength has allowed the company to consistently enable wealth creation for its employees, marking the fourth liquidity event since 2018.

The successful implementation of the ESOP liquidity program despite tough macroeconomic conditions highlights Swiggy’s resilience and commitment to the well-being of its employees. Swiggy remains one of the few Indian start-ups to consistently empower its workforce and create opportunities for wealth creation. The two-year ESOP liquidity program, initially announced in 2021, has demonstrated Swiggy’s dedication to fostering a culture of wealth creation and rewarding its employees for their invaluable contributions to the company’s growth and success.