Swiggy Launches 'Crew' Concierge Service, Approves Rs 150 Crore ESOP Grant
Food delivery behemoth Swiggy has broadened its services with the introduction of 'Crew,' a premium lifestyle and travel concierge platform, and has also sanctioned a new round of employee stock option (ESOP) grants worth approximately Rs 150 crore (around $17.5 million).
Swiggy's revenue soared by 45% to Rs 4,410 crore in the March quarter, despite the company incurring a net loss of Rs 1,081 crore in Q4 FY25. This growth comes as the company expands into premium services with 'Crew.'
The ESOP grant, valued at Rs 150 crore, consists of 3,886,049 stock options, each worth Rs 1 with an exercise price of Rs 1 per share. Employees who depart the organization can exercise these options within 36 months of leaving. This grant follows a similar Rs 443 crore ESOP grant announced in April 2025, totaling nearly Rs 600 crore in employee stock incentives this year. The options can be exercised after the vesting period, until the company's liquidation, provided the employee remains in service.
Swiggy's ESOP plan, part of its 2024 ESOP plan and adhering to SEBI regulations, is estimated to be worth Rs 150 crore at Swiggy's Friday closing share price of Rs 385.10. Equity shares issued under the plan will not be subject to any lock-in period. The company continues to invest in its employees while expanding its service offerings.
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