India’s quick commerce and food delivery giant Swiggy continues to strengthen its position as a leader in the startup ecosystem by prioritizing employee empowerment. On July 12, 2025, the Bengaluru-based company announced a fresh allocation of Rs 150 crore ($17.5 million) in employee stock options (ESOPs), reinforcing its commitment to attracting and retaining top talent. This move comes amid a dynamic year for Swiggy, marked by strategic expansions and robust financial growth, even as it navigates competitive pressures in India’s fast-evolving market.
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Swiggy’s Latest ESOP Initiative
Details of the Grant
Swiggy Limited has rolled out 38.86 lakh stock options under its ESOP 2024 plan, as disclosed in recent filings with the National Stock Exchange (NSE). Valued at approximately Rs 150 crore, based on the current market price of Rs 385.3 per share, these options carry an exercise price of just Rs 1 each. Upon vesting, each option converts into one fully paid-up equity share, offering employees significant potential upside. The options can be exercised post-vesting until the company’s liquidation, providing flexibility and long-term incentives for employees.
Building on Previous Efforts
This latest ESOP grant follows an earlier allocation in April 2025, when Swiggy distributed stock options worth Rs 443.4 crore ($52 million) to eligible employees under the same ESOP 2024 plan. Together, these initiatives reflect Swiggy’s strategy to align employee interests with the company’s long-term growth, fostering a culture of ownership and innovation.
Strategic Expansion into New Verticals
Launch of Crew App
In June 2025, Swiggy ventured into the travel concierge and lifestyle management space with the launch of its new app, Crew, as exclusively reported by Entrackr. This strategic move diversifies Swiggy’s portfolio beyond food delivery and quick commerce, positioning it to capture emerging consumer trends in lifestyle services. The expansion underscores Swiggy’s ambition to evolve into a comprehensive service platform, leveraging its technological expertise and customer base.
Competitive Positioning
Swiggy’s bold diversification comes at a time when competitors like Zomato and Zepto are also intensifying their presence. Zomato reported a profit of Rs 39 crore in Q4 FY25, while Zepto reduced its losses to Rs 1,248 crore in FY24. Swiggy, however, continues to prioritize growth, with its revenue surging 45% year-on-year to Rs 4,410 crore in Q4 FY25, despite a 95% increase in losses to Rs 1,081 crore. For the full fiscal year, Swiggy recorded an impressive revenue of Rs 15,227 crore, signaling its strong market traction.
Financial Snapshot and Market Standing
Stock Performance
As of July 11, 2025, Swiggy’s shares closed at Rs 385.3, reflecting investor confidence in its growth trajectory. With a market capitalization of Rs 96,080 crore ($11.3 billion), Swiggy remains a dominant player in India’s startup landscape, competing closely with rivals like Zomato.
Balancing Growth and Profitability
While Swiggy’s losses widened in Q4 FY25, its aggressive investments in technology, logistics, and new verticals like Crew highlight its focus on long-term value creation. The company’s ability to scale revenue while expanding its ESOP pool demonstrates a balanced approach to growth and employee welfare.
Why This Matters for India’s Startup Ecosystem
Talent Retention in a Competitive Market
Swiggy’s substantial ESOP grants are a strategic response to the intensifying war for talent in India’s startup ecosystem. By offering employees a stake in its success, Swiggy is not only retaining top talent but also fostering a culture of innovation and accountability. This move aligns with broader trends, as companies like Flipkart and PhonePe have also expanded ESOP programs in 2025 to compete for skilled professionals in AI, logistics, and product development.
Global Investor Confidence
Swiggy’s ESOP expansion and diversification efforts are bolstered by strong backing from global investors, including Prosus and SoftBank. These funds are increasingly eyeing India’s quick commerce and consumer tech sectors, with $7.76 billion invested across 916 equity funding rounds in H1 2025, according to industry reports. Swiggy’s ability to secure capital and deploy it strategically positions it as a key beneficiary of this global interest.
Looking Ahead
Swiggy’s Rs 150 crore ESOP grant is more than a financial incentive—it’s a testament to the company’s vision of empowering its workforce while driving innovation. As it expands into new verticals like travel and lifestyle management, Swiggy is redefining the boundaries of quick commerce in India. With a robust revenue growth trajectory and a market cap exceeding $11 billion, the company is well-poised to lead India’s startup ecosystem into the future, setting a benchmark for others to follow.
also read : India’s Top 5 Startup Funding Platforms Empowering Early-Stage Founders in 2025
Last Updated on Monday, July 14, 2025 11:26 am by Siddhant Jain
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