Swiggy's IPO is set to turn 500 employees into crorepatis: Here's what it actually means and how it's happening

Around 500 Swiggy employees are about to hit the "crorepati" status today. If that doesn't make you rethink your career path, what will? Seriously, if your company gifted you sweet-nothings for Diwali, let alone set you up for a crorepati lifestyle, maybe it's time for a little job switch!

How are Swiggy employees becoming crorepatis?

Swiggy employees are about to become crorepatis, thanks to the company's IPO debut today, November 13.?

The much-anticipated listing will see Swiggy's shares available for trading on both the BSE and NSE during a special pre-open session starting at 10:00 IST.

With the IPO, Swiggy is unlocking a massive Rs 9,000 crore in employee stock options (ESOPs), making this one of the largest ESOP payouts in India's startup history. It's set to rival Flipkart's $1.4–1.5 billion payout.

This marks a milestone as Swiggy's Rs 11,300-crore IPO becomes the largest tech company offering since Paytm's public listing in 2019.?

Employees who receive shares will be able to sell them just one month after the listing, thanks to a special exemption from the usual one-year lock-in period granted by SEBI earlier this year.

So, if you're a Swiggy employee, it's time to celebrate—crorepati status is just around the corner!

Understanding the Swiggy IPO: What it means for employees and investors

Credit: Unsplash

If financial jargon isn't your thing, here's a simple breakdown of what's happening with Swiggy's IPO today:

Swiggy is offering its shares to the public for the first time through something called an IPO (Initial Public Offering). This means anyone can buy a part of Swiggy by purchasing shares in the company.

An IPO (Initial Public Offering) is when a private company offers its shares to the public for the first time by listing them on a stock exchange.?

Before the IPO, the company's shares are owned privately by a small group of investors, such as founders, employees, or venture capitalists. Through an IPO, the company raises money by selling shares to the general public, and anyone can buy a piece of the company.

As part of this, Swiggy is also letting its employees buy shares at a special discount through ESOPs (Employee Stock Options). These options are a way for the company to reward its workers, and if the shares perform well, many of these employees could become crorepatis (millionaires).

In short, Swiggy is giving its employees a chance to own a part of the company and potentially make a lot of money as the shares start trading today.

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